Verona Pharma (NASDAQ:VRNA) Now Covered by Roth Mkm

Analysts at Roth Mkm assumed coverage on shares of Verona Pharma (NASDAQ:VRNA) in a report released on Friday,Benzinga reports. The firm set a “buy” rating and a $68.00 price target on the stock. Roth Mkm’s price objective would indicate a potential upside of 47.19% from the stock’s current price.

Several other research analysts also recently issued reports on VRNA. HC Wainwright upped their target price on shares of Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and set a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research note on Wednesday. Wells Fargo & Company boosted their price target on Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Canaccord Genuity Group increased their price objective on Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $50.57.

Verona Pharma Stock Performance

Shares of Verona Pharma stock opened at $46.20 on Friday. The business has a fifty day simple moving average of $41.12 and a two-hundred day simple moving average of $31.32. The firm has a market capitalization of $3.72 billion, a P/E ratio of -24.06 and a beta of 0.40. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. Verona Pharma has a 12 month low of $11.39 and a 12 month high of $51.80.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The company had revenue of $5.62 million during the quarter, compared to the consensus estimate of $2.31 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. On average, equities analysts forecast that Verona Pharma will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Verona Pharma

In other news, CFO Mark W. Hahn sold 98,704 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $5.01, for a total value of $494,507.04. Following the completion of the sale, the chief financial officer now directly owns 14,177,296 shares of the company’s stock, valued at $71,028,252.96. This represents a 0.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Zaccardelli sold 245,784 shares of Verona Pharma stock in a transaction on Friday, October 18th. The shares were sold at an average price of $4.38, for a total transaction of $1,076,533.92. Following the transaction, the chief executive officer now owns 15,004,920 shares in the company, valued at approximately $65,721,549.60. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,094,432 shares of company stock valued at $9,748,833. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after buying an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Verona Pharma by 25.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after purchasing an additional 529 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Verona Pharma in the third quarter worth about $169,000. Claro Advisors LLC purchased a new stake in shares of Verona Pharma in the third quarter worth about $209,000. Finally, Sanctuary Advisors LLC bought a new position in Verona Pharma during the third quarter valued at approximately $219,000. 85.88% of the stock is owned by institutional investors.

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.