Verona Pharma (NASDAQ:VRNA) Stock Price Expected to Rise, HC Wainwright Analyst Says

Verona Pharma (NASDAQ:VRNA) had its price target increased by research analysts at HC Wainwright from $36.00 to $42.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 10.09% from the company’s current price.

A number of other brokerages have also commented on VRNA. Wells Fargo & Company began coverage on shares of Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 price objective on the stock. Truist Financial raised their price target on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group raised their target price on Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $41.50.

Verona Pharma Stock Performance

Shares of VRNA opened at $38.15 on Tuesday. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $39.38. The company’s 50 day simple moving average is $30.84 and its 200 day simple moving average is $22.33. The company has a market capitalization of $3.10 billion, a price-to-earnings 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.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The business had revenue of $5.62 million during the quarter, compared to analysts’ expectations of $2.31 million. During the same period in the previous year, the company posted ($0.18) EPS. On average, sell-side analysts predict that Verona Pharma will post -2.07 EPS for the current year.

Insiders Place Their Bets

In other news, CEO David Zaccardelli sold 245,784 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $4.38, for a total value of $1,076,533.92. Following the completion of the transaction, the chief executive officer now directly owns 15,004,920 shares in the company, valued at $65,721,549.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Mark W. Hahn sold 141,360 shares of the 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 completion of the sale, the chief financial officer now directly owns 13,672,560 shares of the company’s stock, valued at approximately $59,885,812.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $1,076,533.92. Following the sale, the chief executive officer now owns 15,004,920 shares of the company’s stock, valued at $65,721,549.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 868,840 shares of company stock worth $3,805,519. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC acquired a new position in Verona Pharma during the second quarter valued at approximately $29,000. EMC Capital Management bought a new stake in shares of Verona Pharma during the 2nd quarter worth $38,000. GAMMA Investing LLC lifted its position in Verona Pharma by 70.6% during 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. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Verona Pharma by 25.4% in 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 during the last quarter. Finally, Legato Capital Management LLC bought a new position in shares of Verona Pharma in the second quarter worth about $154,000. 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.