Verona Pharma plc (NASDAQ:VRNA) Receives Consensus Recommendation of "Buy" from Analysts

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) has earned a consensus recommendation of "Buy" from the six research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $43.83.

VRNA has been the subject of a number of research reports. Truist Financial lifted their price objective on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Canaccord Genuity Group lifted their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of Verona Pharma from $50.00 to $64.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, HC Wainwright boosted their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, November 5th.

Verona Pharma Stock Performance

Verona Pharma stock traded up $1.16 during trading hours on Friday, reaching $39.02. 468,994 shares of the stock were exchanged, compared to its average volume of 932,069. The firm's 50 day moving average is $33.46 and its 200 day moving average is $24.23. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The stock has a market cap of $3.14 billion, a P/E ratio of -20.33 and a beta of 0.42. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $40.13.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released 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 business had revenue of $5.62 million for the quarter, compared to the consensus estimate of $2.31 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Analysts predict that Verona Pharma will post -2.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Verona Pharma news, CFO Mark W. Hahn sold 249,728 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 14,089,960 shares of the company's stock, valued at $61,714,024.80. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Zaccardelli sold 245,784 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,076,533.92. Following the sale, the chief executive officer now directly owns 15,004,920 shares of the company's stock, valued at $65,721,549.60. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,141,944 shares of company stock worth $5,004,952. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VRNA. Eventide Asset Management LLC raised its stake in Verona Pharma by 359.6% during the third quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company's stock worth $69,792,000 after acquiring an additional 1,898,065 shares in the last quarter. Maverick Capital Ltd. grew 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 purchasing an additional 1,316,998 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Verona Pharma during the third quarter worth $31,966,000. Candriam S.C.A. bought a new stake in shares of Verona Pharma during the second quarter worth $11,177,000. Finally, Jennison Associates LLC grew its holdings in shares of Verona Pharma by 54.3% during the third quarter. Jennison Associates LLC now owns 1,740,886 shares of the company's stock worth $50,085,000 after purchasing an additional 612,854 shares during the last quarter. 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.