H.C. Wainwright analyst Oren Livnat maintained a Buy rating on Verrica Pharmaceuticals Inc (VRCA) today and set a price target of $23. The company’s shares opened today at $10.45.
Livnat observed:
“We hadn’t previously included common warts as we had real doubts whether cantharidin would be efficacious against these warts residing deeper in the skin than MC lesions. VP-102 delivered in the COVE-1 study, with Cohort 2—the more relevant cohort, in our view (more below)—demonstrating complete clearance in 51% of subjects and a 51% reduction in total treated warts at Week-12. Obvious caveats apply, including the lack of placebo comparator and the small sample (n=35), but we note that: (1) the magnitude of efficacy is encouragingly consistent with that seen in Verrica’s two MC Phase 3s which showed 46% and 54% complete clearance rates; (2) it appears to compare favorably (though not head-to-head) with Aclaris Therapeutics’ (ACRS; not rated) larger Phase 2 with twice-weekly A-101; and (3) it far exceeds the placebo clearance rates seen in the Aclaris’ Phase 2s.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 10.3% and a 53.2% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Collegium Pharmaceutical, and Zynerba Pharmaceuticals.
Verrica Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $23.
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The company has a one-year high of $20.30 and a one-year low of $6.44. Currently, Verrica Pharmaceuticals Inc has an average volume of 38.45K.
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Verrica Pharmaceuticals, Inc. operates as a clinical-stage medical dermatology company, which engages in identifying, developing, and commercializing pharmaceutical products for the treatment of skin diseases. Its lead product VP-102, is a proprietary topical therapy used in common skin indications including Molluscum contagiosum and Verruca Vulgaris.
