Verona Pharma plc (NASDAQ:VRNA) Sees Significant Growth in Short Interest

Verona Pharma plc (NASDAQ:VRNA) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 7,720,000 shares, a growth of 28.7% from the May 31st total of 6,000,000 shares. Based on an average daily trading volume, of 766,900 shares, the short-interest ratio is presently 10.1 days.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright upped their price target on Verona Pharma from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $35.00 target price on shares of Verona Pharma in a research note on Thursday. Truist Financial increased their target price on Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Friday. Finally, Piper Sandler increased their target price on Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $35.60.

Insider Buying and Selling

In related news, insider Kathleen A. Rickard sold 36,248 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.96, for a total value of $71,046.08. Following the sale, the insider now owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verona Pharma

Several hedge funds and other institutional investors have recently modified their holdings of VRNA. Campbell & CO Investment Adviser LLC raised its holdings in Verona Pharma by 1.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock worth $1,011,000 after purchasing an additional 862 shares during the period. D.A. Davidson & CO. raised its holdings in Verona Pharma by 2.8% in the 4th quarter. D.A. Davidson & CO. now owns 33,400 shares of the company’s stock worth $664,000 after purchasing an additional 900 shares during the period. 1492 Capital Management LLC raised its holdings in Verona Pharma by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 166,038 shares of the company’s stock worth $3,301,000 after purchasing an additional 1,579 shares during the period. Cape Investment Advisory Inc. bought a new position in Verona Pharma in the 4th quarter worth $40,000. Finally, Sei Investments Co. raised its holdings in Verona Pharma by 3.7% in the 1st quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock worth $1,195,000 after purchasing an additional 2,640 shares during the period. 85.88% of the stock is owned by institutional investors.

Verona Pharma Price Performance

NASDAQ VRNA opened at $14.46 on Friday. The business’s fifty day moving average price is $14.07 and its 200-day moving average price is $16.13. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -18.78 and a beta of 0.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 18.40 and a quick ratio of 18.40. Verona Pharma has a 1-year low of $11.39 and a 1-year high of $23.07.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08). On average, equities analysts predict that Verona Pharma will post -1.54 earnings per share for the current year.

Verona Pharma Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.