Verona Pharma (NASDAQ:VRNA) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Verona Pharma (NASDAQ:VRNA) released its quarterly earnings results on Monday. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12), Zacks reports. The firm had revenue of $5.62 million during the quarter, compared to analyst estimates of $2.31 million. During the same period in the prior year, the company posted ($0.18) EPS.

Verona Pharma Stock Up 2.2 %

NASDAQ VRNA traded up $0.85 during trading on Tuesday, reaching $39.00. 79,777 shares of the company’s stock were exchanged, compared to its average volume of 917,849. The stock has a market cap of $3.17 billion, a P/E ratio of -24.77 and a beta of 0.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61. The company has a 50 day moving average price of $30.84 and a two-hundred day moving average price of $22.33. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $39.38.

Insiders Place Their Bets

In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of Verona Pharma stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $4.38, for a total transaction of $483,797.28. Following the completion of the sale, the chief executive officer now directly owns 14,894,464 shares of the company’s stock, valued at $65,237,752.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO David Zaccardelli sold 110,456 shares of Verona Pharma stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $4.38, for a total transaction of $483,797.28. Following the sale, the chief executive officer now owns 14,894,464 shares in the company, valued at approximately $65,237,752.32. The trade was a 0.00 % decrease in their ownership of the stock. 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 141,360 shares of Verona Pharma stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $4.38, for a total value of $619,156.80. Following the sale, the chief financial officer now owns 13,672,560 shares in the company, valued at $59,885,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 868,840 shares of company stock valued at $3,805,519 in the last ninety days. Insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Canaccord Genuity Group raised their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company assumed coverage on Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 target price for the company. Truist Financial lifted their target price on 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 lifted their target price on Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $41.50.

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.