Verona Pharma (NASDAQ:VRNA) Announces Quarterly Earnings Results

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

Verona Pharma Trading Down 2.1 %

Shares of VRNA stock traded down $0.80 during trading hours on Wednesday, hitting $37.59. 1,019,212 shares of the company were exchanged, compared to its average volume of 923,590. The firm has a market cap of $3.05 billion, a PE ratio of -19.58 and a beta of 0.42. The firm has a fifty day moving average of $31.28 and a 200 day moving average of $22.59. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $39.40. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72.

Insider Buying and Selling

In other Verona Pharma news, CFO Mark W. Hahn sold 80,784 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $4.39, for a total transaction of $354,641.76. Following the completion of the sale, the chief financial officer now owns 14,293,736 shares in the company, valued at $62,749,501.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Zaccardelli sold 94,144 shares of Verona Pharma stock in a transaction on Monday, November 4th. The stock was sold at an average price of $4.39, for a total value of $413,292.16. Following the transaction, the chief executive officer now directly owns 15,204,752 shares in the company, valued at $66,748,861.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Hahn sold 80,784 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $4.39, for a total transaction of $354,641.76. Following the completion of the sale, the chief financial officer now owns 14,293,736 shares of the company’s stock, valued at approximately $62,749,501.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,139,544 shares of company stock valued at $4,992,952. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. HC Wainwright boosted their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective on Verona Pharma from $50.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday. Truist Financial raised their target price on shares of Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group boosted their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Verona Pharma has a consensus rating of “Buy” and a consensus price target of $43.83.

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.