5 Best Pharmaceutical Stocks to Buy According to Billionaire Joseph Edelman

3. Verrica Pharmaceuticals Inc. (NASDAQ: VRCA)

Edelman’s Stake Value: $54,698,000
Percentage of Joseph Edelman’s 13F Portfolio: 0.68%
Number of Hedge Fund Holders: 7

Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) is an American dermatology medicine company. The company was incorporated in 2013 and stands third on the list of 10 best pharmaceutical stocks to buy according to billionaire Joseph Edelman. Verrica currently has a $318.5 million market capitalization.

On May 7, Verrica Pharmaceuticals Inc. (NASDAQ: VRCA) announced its Q1 2021 earnings per share of -$0.04 beating market predictions by $0.32. On May 13, RBC Capital rated the stock as “Outperform,” and set a price target at $19.00.

Perceptive Advisors increased his hold in Verrica by 6% in the first quarter of 2021, ending the period with $54.70 million worth of the company’s shares. In the first quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $80.28 million in Verrica Pharmaceuticals Inc. (NASDAQ: VRCA), up from 4 the preceding quarter worth $61.03 million.