Brokerages Set Verona Pharma plc (NASDAQ:VRNA) Target Price at $39.33

Shares of Verona Pharma plc (NASDAQ:VRNA - Get Free Report) have been assigned an average rating of "Buy" from the six research firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $39.33.

Several analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $36.00 price target on shares of Verona Pharma in a report on Tuesday, October 1st. Truist Financial upped their price target on shares of Verona Pharma from $38.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Canaccord Genuity Group increased their price target on Verona Pharma from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company assumed coverage on Verona Pharma in a research report on Thursday, October 3rd. They issued an "overweight" rating and a $50.00 target price for the company.

Verona Pharma Stock Down 2.2 %

Shares of VRNA traded down $0.75 during midday trading on Monday, hitting $33.11. The company had a trading volume of 549,177 shares, compared to its average volume of 911,937. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -21.99 and a beta of 0.44. The company's 50 day moving average price is $29.96 and its 200 day moving average price is $21.54. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72. Verona Pharma has a 52 week low of $11.39 and a 52 week high of $35.62.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period in the prior year, the business posted ($0.11) earnings per share. On average, equities research analysts predict that Verona Pharma will post -2.07 EPS for the current year.

Insider Activity at Verona Pharma

In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of the firm's stock in a transaction that occurred 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 owns 14,894,464 shares of the company's stock, valued at $65,237,752.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 14,894,464 shares in the company, valued at approximately $65,237,752.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 249,728 shares of the business'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 $1,093,808.64. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 868,840 shares of company stock valued at $3,805,519. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma

Several institutional investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. increased its stake in shares of Verona Pharma by 74.2% in the second quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company's stock valued at $44,722,000 after buying an additional 1,316,998 shares in the last quarter. Candriam S.C.A. acquired a new stake in Verona Pharma in the 2nd quarter valued at about $11,177,000. NEA Management Company LLC raised its stake in shares of 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 acquiring an additional 476,190 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Verona Pharma by 56.6% during the second quarter. American Century Companies Inc. now owns 878,043 shares of the company's stock worth $12,697,000 after purchasing an additional 317,184 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. grew its stake in shares of Verona Pharma by 10.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company's stock valued at $47,925,000 after purchasing an additional 300,000 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

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.