Verona Pharma (NASDAQ:VRNA) Now Covered by Analysts at Roth Mkm

Roth Mkm assumed coverage on shares of Verona Pharma (NASDAQ:VRNA - Free Report) in a research report report published on Friday, MarketBeat reports. The brokerage issued a buy rating and a $68.00 price objective on the stock.

VRNA has been the subject of a number of other reports. Canaccord Genuity Group raised their price target on Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. HC Wainwright lifted their price target on Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Truist Financial reiterated a "buy" rating and set a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $50.57.

Verona Pharma Price Performance

NASDAQ:VRNA traded down $1.00 during trading hours on Friday, reaching $45.20. The company had a trading volume of 1,996,282 shares, compared to its average volume of 2,076,714. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $41.33 and a two-hundred day moving average of $31.52. Verona Pharma has a one year low of $11.39 and a one year high of $51.80. The firm has a market capitalization of $3.64 billion, a PE ratio of -23.54 and a beta of 0.40.

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 (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The company had revenue of $5.62 million for the quarter, compared to analysts' expectations of $2.31 million. During the same period in the prior year, the company earned ($0.18) earnings per share. Analysts forecast that Verona Pharma will post -2.11 earnings per share for the current year.

Insider Activity

In other news, CFO Mark W. Hahn sold 249,728 shares of the firm'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 owns 14,089,960 shares of the company's stock, valued at $61,714,024.80. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Zaccardelli sold 162,800 shares of Verona Pharma stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $5.01, for a total value of $815,628.00. Following the transaction, the chief executive officer now owns 14,204,752 shares in the company, valued at $71,165,807.52. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,094,432 shares of company stock valued at $9,748,833 in the last 90 days. 4.80% of the stock is owned by company insiders.

Institutional Trading of Verona Pharma

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Verona Pharma by 70.6% during the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock worth $38,000 after buying an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Verona Pharma by 25.4% in 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. Diversify Advisory Services LLC acquired a new position in Verona Pharma during the 3rd quarter worth approximately $169,000. Marshall Wace LLP acquired a new position in Verona Pharma during the 2nd quarter worth approximately $195,000. Finally, Claro Advisors LLC acquired a new stake in shares of Verona Pharma in the third quarter valued at approximately $209,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.