Verrica Pharmaceuticals initiated with a Buy at Lucid Capital

Lucid Capital initiated coverage of Verrica Pharmaceuticals (VRCA) with a Buy rating and $19 price target The firm views Verrica as a “de-risked” dermatology platform transitioning to a scalable growth model with expanding global leverage and strong capital efficiency. The company’s Ycanth holds a first-mover advantage as the only in-office FDA-approved therapy for molluscum contagiosum, a large, underpenetrated pediatric market with broad payer coverage, the analyst tells investors in a research note.