Brokerages Set Verona Pharma plc (NASDAQ:VRNA) Price Target at $43.83

Verona Pharma plc (NASDAQ:VRNA) has been given an average rating of “Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $43.83.

VRNA has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group lifted their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Truist Financial boosted their price target on shares of Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright raised their price objective on Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

Insider Activity at Verona Pharma

In related news, CFO Mark W. Hahn sold 249,728 shares of Verona Pharma stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,093,808.64. Following the sale, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at approximately $61,714,024.80. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Zaccardelli sold 110,456 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $4.38, for a total transaction of $483,797.28. Following the completion of the transaction, the chief executive officer now directly owns 14,894,464 shares of the company’s stock, valued at $65,237,752.32. This represents a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,141,944 shares of company stock valued at $5,004,952. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of Verona Pharma

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in shares of Verona Pharma by 3.7% during the first 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. First Turn Management LLC bought a new position in Verona Pharma during the 3rd quarter worth $16,483,000. Bellevue Group AG raised its holdings in Verona Pharma by 35.6% in the 1st quarter. Bellevue Group AG now owns 1,139,295 shares of the company’s stock valued at $18,331,000 after acquiring an additional 299,299 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Verona Pharma during the 2nd quarter valued at $859,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Verona Pharma during the 3rd quarter worth $849,000. 85.88% of the stock is currently owned by institutional investors.

Verona Pharma Price Performance

Shares of VRNA stock opened at $38.81 on Friday. The firm’s 50 day moving average price is $33.64 and its two-hundred day moving average price is $24.53. The stock has a market cap of $3.10 billion, a PE ratio of -20.21 and a beta of 0.42. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $40.13. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The company had revenue of $5.62 million during the quarter, compared to analyst estimates of $2.31 million. During the same period in the previous year, the business posted ($0.18) earnings per share. As a group, analysts forecast that Verona Pharma will post -2.11 EPS 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.