Brokers Issue Forecasts for Verona Pharma FY2024 Earnings

Verona Pharma plc (NASDAQ:VRNA) – Research analysts at HC Wainwright reduced their FY2024 earnings per share estimates for Verona Pharma in a report released on Tuesday, November 5th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($2.16) per share for the year, down from their previous forecast of ($2.00). HC Wainwright has a “Buy” rating and a $42.00 price objective on the stock. The consensus estimate for Verona Pharma’s current full-year earnings is ($2.07) per share. HC Wainwright also issued estimates for Verona Pharma’s Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.40) EPS and FY2025 earnings at ($1.36) EPS.

A number of other research analysts have also issued reports on VRNA. Canaccord Genuity Group boosted 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. 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 research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on shares of Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Verona Pharma has an average rating of “Buy” and an average target price of $43.83.

Verona Pharma Stock Down 2.1 %

Verona Pharma stock opened at $37.59 on Thursday. The firm has a market capitalization of $3.05 billion, a P/E ratio of -19.58 and a beta of 0.42. The company has a 50-day simple moving average of $31.28 and a 200-day simple moving average of $22.59. Verona Pharma has a one year low of $11.39 and a one year high of $39.40. 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 issued its earnings results on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The business had revenue of $5.62 million for the quarter, compared to analysts’ expectations of $2.31 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. lifted its stake in shares of Verona Pharma by 3.7% in the first quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock worth $1,195,000 after buying an additional 2,640 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Verona Pharma by 35.6% in the 1st quarter. Bellevue Group AG now owns 1,139,295 shares of the company’s stock valued at $18,331,000 after purchasing an additional 299,299 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Verona Pharma in the second quarter valued at about $859,000. Resolute Capital Asset Partners LLC acquired a new stake in Verona Pharma in the second quarter worth $723,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Verona Pharma by 101.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 135,629 shares of the company’s stock valued at $1,961,000 after acquiring an additional 68,264 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Verona Pharma

In other Verona Pharma news, CFO Mark W. Hahn sold 80,784 shares of Verona Pharma stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $4.39, for a total value of $354,641.76. Following the transaction, the chief financial officer now owns 14,293,736 shares in the company, valued at approximately $62,749,501.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark W. Hahn sold 80,784 shares of the firm’s stock in a transaction 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 directly owns 14,293,736 shares of the company’s stock, valued at $62,749,501.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Zaccardelli sold 110,456 shares of the business’s 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 sale, the chief executive officer now directly owns 14,894,464 shares in the company, valued at $65,237,752.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,139,544 shares of company stock valued at $4,992,952 over the last ninety days. Insiders own 4.80% of the company’s stock.

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.