Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) saw a significant decline in short interest in the month of October. As of October 30th, there was short interest totalling 1,860,000 shares, a decline of 21.2% from the October 15th total of 2,360,000 shares. Based on an average daily volume of 170,900 shares, the short-interest ratio is presently 10.9 days. Currently, 14.7% of the company’s shares are short sold.

In other Verrica Pharmaceuticals news, Director Craig Ballaron purchased 5,228 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $9.16 per share, with a total value of $47,888.48. Following the completion of the transaction, the director now owns 5,228 shares of the company’s stock, valued at $47,888.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.20% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in VRCA. State Street Corp raised its position in Verrica Pharmaceuticals by 4.6% in the 1st quarter. State Street Corp now owns 234,801 shares of the company’s stock worth $2,566,000 after purchasing an additional 10,277 shares during the period. Creative Planning purchased a new position in Verrica Pharmaceuticals in the 2nd quarter worth $220,000. California Public Employees Retirement System raised its position in Verrica Pharmaceuticals by 137.1% in the 2nd quarter. California Public Employees Retirement System now owns 27,670 shares of the company’s stock worth $305,000 after purchasing an additional 16,000 shares during the period. Kornitzer Capital Management Inc. KS raised its position in Verrica Pharmaceuticals by 4.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 489,694 shares of the company’s stock worth $5,392,000 after purchasing an additional 19,420 shares during the period. Finally, FinTrust Capital Advisors LLC purchased a new position in Verrica Pharmaceuticals in the 3rd quarter worth $77,000. 33.97% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded Verrica Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Friday, October 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Verrica Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $13.75.

VRCA stock opened at $9.46 on Friday. The business’s 50-day moving average price is $8.26 and its two-hundred day moving average price is $9.36. The firm has a market cap of $244.69 million, a PE ratio of -7.17 and a beta of 2.30. Verrica Pharmaceuticals has a 1-year low of $6.02 and a 1-year high of $18.67.

Verrica Pharmaceuticals (NASDAQ:VRCA) last posted its earnings results on Monday, November 9th. The company reported ($0.42) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.01. On average, sell-side analysts expect that Verrica Pharmaceuticals will post -1.73 earnings per share for the current year.

Verrica Pharmaceuticals Company Profile

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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