Verona Pharma plc (NASDAQ:VRNA) Receives Consensus Rating of “Buy” from Analysts

Verona Pharma plc (NASDAQ:VRNA) has earned a consensus rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $50.57.

Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Roth Capital upgraded shares of Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Truist Financial restated a “buy” rating and set a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. HC Wainwright upped their price objective on Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Roth Mkm started coverage on Verona Pharma in a research note on Friday, January 10th. They set a “buy” rating and a $68.00 target price for the company.

Insider Activity at Verona Pharma

In related news, CEO David Zaccardelli sold 110,456 shares of Verona Pharma stock in a transaction on Monday, October 21st. The stock was sold at an average price of $4.38, for a total value of $483,797.28. Following the completion of the transaction, the chief executive officer now directly owns 14,894,464 shares in the company, valued at approximately $65,237,752.32. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kathleen A. Rickard sold 240,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $4.90, for a total value of $1,176,000.00. Following the transaction, the insider now directly owns 2,671,480 shares of the company’s stock, valued at approximately $13,090,252. This represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,598,920 shares of company stock worth $7,578,491. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after buying an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after acquiring an additional 529 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Verona Pharma during the third quarter worth approximately $169,000. Claro Advisors LLC acquired a new position in Verona Pharma in the third quarter valued at approximately $209,000. Finally, Sanctuary Advisors LLC purchased a new position in Verona Pharma in the third quarter valued at approximately $219,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Verona Pharma Trading Down 3.3 %

VRNA stock opened at $51.89 on Friday. 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 has a 50-day moving average of $42.53 and a two-hundred day moving average of $32.74. Verona Pharma has a 12 month low of $11.39 and a 12 month high of $55.42.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.56) EPS 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 analysts’ expectations of $2.31 million. During the same period in the previous year, the company posted ($0.18) earnings per share. As a group, equities research analysts expect that Verona Pharma will post -1.99 EPS for the current fiscal year.

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.