Verona Pharma plc (NASDAQ:VRNA - Get Free Report)'s stock price fell 3.6% during mid-day trading on Monday . The stock traded as low as $44.73 and last traded at $44.90. 83,366 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,145,106 shares. The stock had previously closed at $46.59.
Analyst Ratings Changes
A number of equities research analysts recently commented on VRNA shares. Truist Financial lifted their price objective on Verona Pharma from $38.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. HC Wainwright upped 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 increased their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Verona Pharma from $50.00 to $64.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Verona Pharma currently has a consensus rating of "Buy" and an average price target of $43.83.
View Our Latest Stock Analysis on VRNA
Verona Pharma Price Performance
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 company has a fifty day moving average price of $40.09 and a two-hundred day moving average price of $30.65. The firm has a market cap of $3.60 billion, a P/E ratio of -23.34 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 for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). 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 firm posted ($0.18) earnings per share. Equities analysts anticipate that Verona Pharma plc will post -2.11 earnings per share for the current year.
Insider Buying and Selling
In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of the company'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 transaction of $483,797.28. Following the completion of the transaction, the chief executive officer now owns 14,894,464 shares of the company's stock, valued at $65,237,752.32. This represents a 0.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathleen A. Rickard sold 240,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.90, for a total transaction of $1,176,000.00. Following the transaction, the insider now directly owns 2,671,480 shares of the company's stock, valued at $13,090,252. This represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,094,432 shares of company stock valued at $9,748,833. Company insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On Verona Pharma
Large investors have recently modified their holdings of the business. TD Asset Management Inc acquired a new position in Verona Pharma during the second quarter valued at approximately $1,758,000. Candriam S.C.A. acquired a new stake in shares of Verona Pharma in the 2nd quarter valued at approximately $11,177,000. PFG Investments LLC grew its stake in shares of Verona Pharma by 67.7% in the second quarter. PFG Investments LLC now owns 44,600 shares of the company's stock valued at $645,000 after buying an additional 18,000 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Verona Pharma by 39.0% during the second quarter. Rice Hall James & Associates LLC now owns 939,576 shares of the company's stock worth $13,586,000 after buying an additional 263,819 shares during the last quarter. Finally, American Century Companies Inc. raised its position in 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 acquiring an additional 317,184 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.
About Verona Pharma
(
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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