Verona Pharma (NASDAQ:VRNA) Releases Quarterly Earnings Results

Verona Pharma (NASDAQ:VRNA - Get Free Report) released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.31 million. During the same quarter in the prior year, the company posted ($0.18) EPS.

Verona Pharma Price Performance

Shares of NASDAQ:VRNA traded up $0.24 during trading on Tuesday, hitting $38.39. 1,210,037 shares of the company were exchanged, compared to its average volume of 923,131. Verona Pharma has a 1-year low of $11.39 and a 1-year high of $39.40. The company has a market capitalization of $3.12 billion, a P/E ratio of -24.93 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 business's 50 day moving average is $31.07 and its 200-day moving average is $22.49.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VRNA. HC Wainwright upped their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday. Canaccord Genuity Group increased their target price on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday. 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. Finally, Wells Fargo & Company increased their price target on Verona Pharma from $50.00 to $64.00 and gave the stock 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, Verona Pharma currently has an average rating of "Buy" and a consensus target price of $43.83.

Insider Activity at Verona Pharma

In other news, CFO Mark W. Hahn sold 249,728 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the sale, the chief financial officer now directly owns 14,089,960 shares in the company, valued at approximately $61,714,024.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Zaccardelli sold 46,888 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $4.38, for a total value of $205,369.44. Following the completion of the sale, the chief executive officer now owns 15,298,896 shares of the company's stock, valued at $67,009,164.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,139,544 shares of company stock valued at $4,992,952 in the last 90 days. 4.80% of the stock is 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.