Verona Pharma (NASDAQ:VRNA) Posts Earnings Results, Misses Estimates By $0.12 EPS

Verona Pharma (NASDAQ:VRNA) announced its quarterly earnings results on Monday. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12), Zacks reports. The business had revenue of $5.62 million during 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.

Verona Pharma Stock Performance

Verona Pharma stock traded down $0.80 on Wednesday, hitting $37.59. The company’s stock had a trading volume of 1,019,212 shares, compared to its average volume of 923,590. Verona Pharma has a one year low of $11.39 and a one year high of $39.40. The firm has a market cap of $3.05 billion, a P/E ratio of -19.58 and a beta of 0.42. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average price of $31.28 and a 200-day moving average price of $22.59.

Insider Transactions at Verona Pharma

In related news, CFO Mark W. Hahn sold 249,728 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $4.38, for a total value of $1,093,808.64. Following the sale, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at $61,714,024.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Mark W. Hahn sold 249,728 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the completion of the sale, the chief financial officer now owns 14,089,960 shares in the company, valued at $61,714,024.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Hahn sold 80,784 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $4.39, for a total transaction of $354,641.76. Following the sale, the chief financial officer now directly owns 14,293,736 shares in the company, valued at $62,749,501.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,139,544 shares of company stock valued at $4,992,952. Company insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VRNA. HC Wainwright increased their target price on Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Verona Pharma from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday. Truist Financial upped 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, Canaccord Genuity Group increased their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price 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.