FY2024 EPS Estimates for Verona Pharma Cut by HC Wainwright

Verona Pharma plc (NASDAQ:VRNA - Free Report) - Stock analysts at HC Wainwright cut their FY2024 earnings per share estimates for Verona Pharma in a report released on Tuesday, November 5th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($2.16) per share for the year, down from their prior estimate of ($2.00). HC Wainwright currently has a "Buy" rating and a $42.00 target price 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.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The firm 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 earned ($0.18) earnings per share.

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

Verona Pharma Stock Up 1.6 %

Shares of NASDAQ:VRNA traded up $0.59 during trading hours on Thursday, reaching $38.18. The stock had a trading volume of 623,299 shares, compared to its average volume of 922,198. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -19.89 and a beta of 0.42. The firm's 50 day moving average is $31.28 and its 200-day moving average is $22.59. Verona Pharma has a 1 year low of $11.39 and a 1 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.

Hedge Funds Weigh In On Verona Pharma

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock valued at $38,000 after buying an additional 553 shares during the period. CWM LLC purchased a new position in shares of Verona Pharma in the 2nd quarter valued at $29,000. EMC Capital Management purchased a new position in shares of Verona Pharma in the 2nd quarter valued at $38,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock valued at $75,000 after acquiring an additional 529 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Verona Pharma during the 3rd quarter worth $169,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Insiders Place Their Bets

In related news, CEO David Zaccardelli sold 245,784 shares of the business'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 $1,076,533.92. Following the sale, the chief executive officer now directly owns 15,004,920 shares in the company, valued at $65,721,549.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Verona Pharma news, CFO Mark W. Hahn sold 249,728 shares of Verona Pharma stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Zaccardelli sold 245,784 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,076,533.92. Following the transaction, the chief executive officer now owns 15,004,920 shares in the company, valued at approximately $65,721,549.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,139,544 shares of company stock worth $4,992,952. Corporate insiders own 4.80% of the company's stock.

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.