Verona Pharma (NASDAQ:VRNA) Stock Price Down 3.6% – What’s Next?

Verona Pharma plc (NASDAQ:VRNA)’s stock price traded down 3.6% during trading on Monday . The company traded as low as $44.73 and last traded at $44.90. 83,366 shares traded hands during trading, a decline of 93% from the average session volume of 1,145,106 shares. The stock had previously closed at $46.59.

Analysts Set New Price Targets

VRNA has been the subject of a number of research analyst reports. HC Wainwright boosted 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. Canaccord Genuity Group raised their price target on Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Truist Financial reissued a “buy” rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a report on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $47.67.

Verona Pharma Stock Down 6.8 %

The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The firm’s fifty day moving average price is $40.64 and its 200-day moving average price is $31.11. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -24.06 and a beta of 0.40.

Verona Pharma (NASDAQ:VRNA) last released 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 during the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the previous year, the business earned ($0.18) EPS. Sell-side analysts predict that Verona Pharma plc will post -2.11 earnings per share for the current year.

Insider Buying and Selling at Verona Pharma

In other news, Director David R. Ebsworth bought 39,360 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average cost of $4.80 per share, for a total transaction of $188,928.00. Following the purchase, the director now owns 920,003 shares of the company’s stock, valued at approximately $4,416,014.40. This trade represents a 4.47 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at $61,714,024.80. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,094,432 shares of company stock valued at $9,748,833 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Verona Pharma by 20.7% during the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock valued at $75,000 after purchasing an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 period. China Universal Asset Management Co. Ltd. lifted its stake in shares of Verona Pharma by 37.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,041 shares of the company’s stock worth $605,000 after buying an additional 5,691 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Verona Pharma during the 3rd quarter worth about $169,000. Finally, Claro Advisors LLC acquired a new position in Verona Pharma in the 3rd quarter valued at about $209,000. 85.88% of the stock is currently 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.