UPDATE: RBC Capital Starts Verrica Pharmaceuticals (VRCA) at Outperform

RBC Capital analyst Daniel Busby initiates coverage on Verrica Pharmaceuticals (NASDAQ: VRCA) with a Outperform rating and a price target of $19.00.

The analyst comments "We are initiating coverage of VRCA with an Outperform, Speculative Risk rating and $19 price target. We expect lead product YCANTH to supplant compounded cantharidin in several important dermatology markets, where it should benefit from high physician awareness, strong clinical data, and the removal of competitors from the market. VRCA also comes with a near-term PDUFA catalyst on 6/23, making this an attractive entry point for the stock, in our view."

For an analyst ratings summary and ratings history on Verrica Pharmaceuticals click here. For more ratings news on Verrica Pharmaceuticals click here.

Shares of Verrica Pharmaceuticals closed at $11.45 yesterday.

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