HC Wainwright Decreases Earnings Estimates for Verona Pharma

Verona Pharma plc (NASDAQ:VRNA) – Investment analysts at HC Wainwright cut their FY2024 earnings per share estimates for Verona Pharma in a research report issued on Tuesday, November 5th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($2.16) per share for the year, down from their previous estimate 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.

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

Verona Pharma Stock Performance

Shares of VRNA stock opened at $37.59 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61. The stock has a market capitalization of $3.05 billion, a PE ratio of -19.58 and a beta of 0.42. The business’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $22.59. Verona Pharma has a one year low of $11.39 and a one year high of $39.40.

Verona Pharma (NASDAQ:VRNA) last posted its 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 for the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the previous year, the company posted ($0.18) EPS.

Hedge Funds Weigh In On Verona Pharma

Several hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. lifted its holdings in shares of Verona Pharma by 74.2% in the 2nd quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company’s stock worth $44,722,000 after buying an additional 1,316,998 shares during the period. Candriam S.C.A. purchased a new position in Verona Pharma in the second quarter valued at about $11,177,000. NEA Management Company LLC raised its holdings in Verona Pharma by 9.3% in the second quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock worth $80,756,000 after purchasing an additional 476,190 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Verona Pharma by 56.6% during the 2nd quarter. American Century Companies Inc. now owns 878,043 shares of the company’s stock worth $12,697,000 after acquiring an additional 317,184 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in Verona Pharma by 10.0% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company’s stock worth $47,925,000 after purchasing an additional 300,000 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

Insider Activity

In related news, CEO David Zaccardelli sold 245,784 shares of the firm’s 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 transaction, the chief executive officer now owns 15,004,920 shares of the company’s stock, valued at approximately $65,721,549.60. This trade represents 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 link. In related news, CEO David Zaccardelli sold 245,784 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $4.38, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Hahn sold 48,888 shares of Verona Pharma stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $4.38, for a total value of $214,129.44. Following the completion of the transaction, the chief financial officer now owns 14,374,520 shares of the company’s stock, valued at approximately $62,960,397.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,139,544 shares of company stock worth $4,992,952 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

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.