Needham Downgrades Verrica Pharmaceuticals (VRCA) to Hold

Needham analyst Serge Belanger downgraded Verrica Pharmaceuticals (NASDAQ: VRCA) from Buy to Hold.

The analyst comments "Downgrading to Hold Given Operational Uncertainties and Significant Cash Overhang. We expect the significant downsizing of VRCA's sales footprint will be headwind for Ycanth growth. The departure of key C-suite executives in charge of the two most important functions (commercial and financial) at VRCA in this current situation is concerning. Based on these recent developments, we are downgrading VRCA to Hold."

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 $1.37 yesterday.

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