Verona Pharma (NASDAQ:VRNA) Price Target Raised to $42.00

Verona Pharma (NASDAQ:VRNA) had its price objective hoisted by analysts at HC Wainwright from $36.00 to $42.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 11.73% from the company’s previous close.

Several other analysts have also recently issued reports on VRNA. Wells Fargo & Company initiated coverage on shares of Verona Pharma in a research note on Thursday, October 3rd. They set an “overweight” rating and a $50.00 price objective for the company. Truist Financial boosted their price target on Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Canaccord Genuity Group raised their price objective on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verona Pharma presently has an average rating of “Buy” and an average price target of $43.83.

Verona Pharma Stock Performance

NASDAQ VRNA opened at $37.59 on Tuesday. The business’s 50-day moving average price is $31.28 and its 200 day moving average price is $22.59. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.72. Verona Pharma has a twelve month low of $11.39 and a twelve month high of $39.40. The company has a market capitalization of $3.05 billion, a PE ratio of -19.58 and a beta of 0.42.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data 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 firm had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. On average, research analysts predict that Verona Pharma will post -2.07 earnings per share for the current year.

Insider Transactions at Verona Pharma

In related news, CEO David Zaccardelli sold 245,784 shares of the firm’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 $1,076,533.92. Following the sale, the chief executive officer now directly owns 15,004,920 shares in the company, valued at approximately $65,721,549.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO David Zaccardelli sold 245,784 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 15,004,920 shares of the company’s stock, valued at approximately $65,721,549.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Hahn sold 48,888 shares of Verona Pharma stock in a transaction on Friday, November 1st. The stock was sold at an average price of $4.38, for a total transaction of $214,129.44. Following the sale, the chief financial officer now directly owns 14,374,520 shares in the company, valued at $62,960,397.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,139,544 shares of company stock valued at $4,992,952 over the last quarter. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. boosted its stake in Verona Pharma by 74.2% during the 2nd quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company’s stock valued at $44,722,000 after acquiring an additional 1,316,998 shares during the last quarter. Candriam S.C.A. acquired a new stake in shares of Verona Pharma in the 2nd quarter valued at about $11,177,000. NEA Management Company LLC raised its stake in shares of Verona Pharma by 9.3% in the 2nd quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock valued at $80,756,000 after purchasing an additional 476,190 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Verona Pharma by 56.6% during the second quarter. American Century Companies Inc. now owns 878,043 shares of the company’s stock worth $12,697,000 after purchasing an additional 317,184 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its stake in Verona Pharma by 10.0% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company’s stock worth $47,925,000 after purchasing an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

About Verona Pharma

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.