Verrica Pharmaceuticals (NASDAQ:VRCA) Stock Price Up 9.8%

Verrica Pharmaceuticals Inc (NASDAQ:VRCA) shares rose 9.8% during trading on Wednesday . The company traded as high as $13.34 and last traded at $12.97, approximately 122,500 shares traded hands during mid-day trading. An increase of 141% from the average daily volume of 50,832 shares. The stock had previously closed at $11.81.

VRCA has been the subject of a number of recent analyst reports. HC Wainwright upped their price objective on shares of Verrica Pharmaceuticals from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Zacks Investment Research upgraded shares of Verrica Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Friday, August 30th.

The stock has a market capitalization of $304.01 million, a price-to-earnings ratio of -10.15 and a beta of 4.04. The stock’s 50 day moving average is $10.12 and its two-hundred day moving average is $10.21.

Verrica Pharmaceuticals (NASDAQ:VRCA) last announced its earnings results on Wednesday, August 7th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. As a group, equities analysts expect that Verrica Pharmaceuticals Inc will post -1.2 EPS for the current year.

In related news, major shareholder Matt Davidson sold 2,688 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $10.16, for a total value of $27,310.08. Following the completion of the transaction, the insider now directly owns 2,577,681 shares of the company’s stock, valued at approximately $26,189,238.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 140,525 shares of company stock valued at $1,571,495. Company insiders own 40.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of Verrica Pharmaceuticals by 18.8% during the 2nd quarter. Bank of America Corp DE now owns 101,242 shares of the company’s stock worth $1,176,000 after buying an additional 16,009 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Verrica Pharmaceuticals by 6.0% during the 2nd quarter. Vanguard Group Inc. now owns 457,103 shares of the company’s stock worth $5,312,000 after buying an additional 25,858 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Verrica Pharmaceuticals by 31.1% during the 2nd quarter. BlackRock Inc. now owns 634,441 shares of the company’s stock worth $7,374,000 after buying an additional 150,679 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Verrica Pharmaceuticals by 3.8% during the 2nd quarter. Northern Trust Corp now owns 111,261 shares of the company’s stock worth $1,293,000 after buying an additional 4,049 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Verrica Pharmaceuticals by 48.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,608 shares of the company’s stock worth $437,000 after buying an additional 12,198 shares during the last quarter. Institutional investors own 35.04% of the company’s stock.

Verrica Pharmaceuticals Company Profile (NASDAQ:VRCA)

Verrica Pharmaceuticals Inc, a clinical stage medical dermatology company, develops and commercializes dermatological treatments in the United States. The company's lead product candidate include VP-102 that is in phase III clinical trial for the treatment of molluscum contagiosum; in phase II clinical trial for the treatment of common warts; and completed phase I clinical trial for the treatment of Genital warts.

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