Verona Pharma plc (NASDAQ:VRNA – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $50.00 to $64.00. Wells Fargo & Company currently has an overweight rating on the stock. Verona Pharma traded as high as $39.40 and last traded at $39.35, with a volume of 398136 shares changing hands. The stock had previously closed at $38.15.
Several other research analysts have also recently issued reports on VRNA. Canaccord Genuity Group increased 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. HC Wainwright raised their price target on Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Truist Financial lifted 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $43.83.
View Our Latest Stock Report on VRNA
Insider Transactions at Verona Pharma
Institutional Trading of Verona Pharma
Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in Verona Pharma during the third quarter worth approximately $849,000. Crossmark Global Holdings Inc. purchased a new position in shares of Verona Pharma during the 3rd quarter worth $465,000. Atria Investments Inc acquired a new stake in shares of Verona Pharma during the third quarter worth $548,000. Cahill Wealth Management LLC purchased a new stake in shares of Verona Pharma in the third quarter valued at $223,000. Finally, Rosalind Advisors Inc. increased its stake in Verona Pharma by 10.0% in the third quarter. Rosalind Advisors Inc. now owns 275,000 shares of the company’s stock valued at $7,912,000 after purchasing an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.
Verona Pharma Price Performance
The company has a 50-day moving average of $30.84 and a two-hundred day moving average of $22.33. 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 $3.18 billion, a PE ratio of -25.06 and a beta of 0.42.
Verona Pharma (NASDAQ:VRNA – Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share 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 the consensus estimate of $2.31 million. During the same quarter in the previous year, the business posted ($0.18) EPS. Sell-side analysts predict that Verona Pharma plc will post -2.07 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.
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