Verona Pharma plc (NASDAQ:VRNA) Receives $39.33 Average Target Price from Analysts

Shares of Verona Pharma plc (NASDAQ:VRNA) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $39.33.

Several analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Verona Pharma in a research note on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 price objective on the stock. Truist Financial upped their price target on shares of Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group upped their price target on shares of Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, July 22nd.

Verona Pharma Stock Up 1.5 %

Shares of NASDAQ:VRNA opened at $34.19 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $35.62. The company has a market capitalization of $2.73 billion, a PE ratio of -44.40 and a beta of 0.44. The company has a fifty day moving average of $30.31 and a 200-day moving average of $21.87.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period in the prior year, the company earned ($0.11) EPS. On average, equities analysts predict that Verona Pharma will post -2.07 EPS for the current fiscal year.

Insider Transactions at Verona Pharma

In other news, CFO Mark W. Hahn sold 249,728 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the transaction, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at $61,714,024.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Mark W. Hahn sold 116,696 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $4.38, for a total transaction of $511,128.48. Following the transaction, the chief financial officer now owns 13,973,264 shares of the company’s stock, valued at $61,202,896.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Hahn sold 249,728 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the completion of the sale, the chief financial officer now owns 14,089,960 shares in the company, valued at $61,714,024.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 868,840 shares of company stock valued at $3,805,519 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Verona Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after acquiring an additional 553 shares during the last quarter. CWM LLC acquired a new stake in shares of Verona Pharma in the 2nd quarter worth about $29,000. EMC Capital Management acquired a new stake in shares of Verona Pharma in the 2nd quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after acquiring an additional 529 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Verona Pharma in the 3rd quarter worth about $169,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

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.