Brokerages Set Verona Pharma plc (NASDAQ:VRNA) Price Target at $50.57

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) has been assigned an average rating of "Buy" from the eight analysts that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $50.57.

Several equities analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price 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. Roth Mkm initiated coverage on shares of Verona Pharma in a research report on Friday. They set a "buy" rating and a $68.00 price objective for the company. HC Wainwright raised their target price on Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Truist Financial reissued a "buy" rating and set a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday. Finally, Roth Capital raised Verona Pharma to a "strong-buy" rating in a research note on Friday.

Verona Pharma Price Performance

Verona Pharma stock traded down $1.00 during mid-day trading on Friday, reaching $45.20. 1,996,282 shares of the company were exchanged, compared to its average volume of 2,076,714. The firm has a market cap of $3.64 billion, a PE ratio of -23.54 and a beta of 0.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company has a fifty day simple moving average of $41.33 and a 200-day simple moving average of $31.64. Verona Pharma has a 12 month low of $11.39 and a 12 month high of $51.80.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). The company 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 firm earned ($0.18) EPS. As a group, equities research analysts expect that Verona Pharma will post -2.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark W. Hahn sold 12,936 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total value of $64,680.00. Following the sale, the chief financial officer now owns 14,276,000 shares of the company's stock, valued at $71,380,000. The trade was a 0.09 % 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, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.90, for a total value of $1,176,000.00. Following the completion of the sale, the insider now owns 2,671,480 shares of the company's stock, valued at $13,090,252. The trade was a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,094,432 shares of company stock worth $9,748,833 in the last 90 days. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Turn Management LLC bought a new stake in Verona Pharma during the third quarter valued at $16,483,000. Wellington Management Group LLP boosted its position in shares of Verona Pharma by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company's stock valued at $54,048,000 after purchasing an additional 307,272 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Verona Pharma during the third quarter worth approximately $849,000. Crossmark Global Holdings Inc. bought a new stake in Verona Pharma in the third quarter worth approximately $465,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Verona Pharma in the second quarter valued at approximately $859,000. 85.88% of the stock is owned by institutional investors and hedge funds.

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.