Verona Pharma plc (NASDAQ:VRNA - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $47.29 and last traded at $47.02, with a volume of 760635 shares changing hands. The stock had previously closed at $46.19.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on VRNA. Wells Fargo & Company boosted their price objective on Verona Pharma from $50.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. HC Wainwright boosted their price target on Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on Verona Pharma from $38.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $43.83.
Check Out Our Latest Stock Analysis on Verona Pharma
Verona Pharma Stock Performance
The stock has a market cap of $3.78 billion, a P/E ratio of -24.49 and a beta of 0.46. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The stock has a 50 day simple moving average of $39.09 and a 200 day simple moving average of $29.77.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $2.31 million. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, equities analysts expect that Verona Pharma plc will post -2.11 earnings per share for the current year.
Insider Buying and Selling at Verona Pharma
In related news, CEO David Zaccardelli sold 110,456 shares of the firm's stock in a transaction dated 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 directly owns 14,894,464 shares of the company's stock, valued at $65,237,752.32. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark W. Hahn sold 98,704 shares of Verona Pharma stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $5.01, for a total value of $494,507.04. Following the completion of the transaction, the chief financial officer now owns 14,177,296 shares in the company, valued at approximately $71,028,252.96. This represents a 0.69 % 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 ninety days. 4.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Verona Pharma
A number of hedge funds have recently made changes to their positions in VRNA. Eventide Asset Management LLC increased its position in Verona Pharma by 359.6% during the 3rd quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company's stock worth $69,792,000 after purchasing an additional 1,898,065 shares in the last quarter. Maverick Capital Ltd. increased its holdings in shares of Verona Pharma by 74.2% during the second quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company's stock worth $44,722,000 after buying an additional 1,316,998 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Verona Pharma in the 3rd quarter valued at $31,966,000. Candriam S.C.A. bought a new position in shares of Verona Pharma in the 2nd quarter valued at $11,177,000. Finally, Jennison Associates LLC boosted its holdings in shares of Verona Pharma by 54.3% during the 3rd quarter. Jennison Associates LLC now owns 1,740,886 shares of the company's stock valued at $50,085,000 after acquiring an additional 612,854 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.
Verona Pharma Company Profile
(
Get Free Report)
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.
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