Verona Pharma (NASDAQ:VRNA) Stock Price Down 3.1% - What's Next?
Verona Pharma (NASDAQ:VRNA) shares fell 3.1% to $51.99, with trading volume down 81% from average levels. Analysts maintain a positive outlook, with several buy ratings and target prices ranging from $44.00 to $68.00. The company reported a quarterly EPS of ($0.56), missing estimates, but revenue exceeded expectations at $5.62 million. Insider selling was noted, with CEO David Zaccardelli selling over 110,000 shares. Institutional investors hold 85.88% of the stock, reflecting strong interest in the biopharmaceutical firm focused on respiratory disease treatments.
Shares of Verona Pharma plc (NASDAQ:VRNA - Get Free Report) were down 3.1% during mid-day trading on Friday . The stock traded as low as $51.09 and last traded at $51.99. Approximately 338,511 shares changed hands during trading, a decline of 81% from the average daily volume of 1,768,426 shares. The stock had previously closed at $53.64.
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Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on VRNA shares. Roth Mkm started coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price target on the stock. Truist Financial restated a "buy" rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Roth Capital raised shares of Verona Pharma to a "strong-buy" rating in a report on Friday, January 10th. HC Wainwright lifted their price objective on Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group upped their target price on Verona Pharma from $37.00 to $44.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $50.57.
View Our Latest Research Report on Verona Pharma
Verona Pharma Trading Down 5.3 %
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 market capitalization of $4.09 billion, a price-to-earnings ratio of -26.68 and a beta of 0.40. The company's 50-day moving average is $41.95 and its 200-day moving average is $32.34.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its 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 business 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 company earned ($0.18) EPS. Research analysts anticipate that Verona Pharma plc will post -1.99 earnings per share for the current fiscal year.
Insider Activity at Verona Pharma
In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $4.38, for a total value of $483,797.28. Following the transaction, the chief executive officer now directly owns 14,894,464 shares in the company, valued at $65,237,752.32. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kathleen A. Rickard sold 240,000 shares of the business'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 sale, the insider now owns 2,671,480 shares of the company's stock, valued at $13,090,252. This represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,598,920 shares of company stock worth $7,578,491. Corporate insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On Verona Pharma
Several institutional investors have recently bought and sold shares of VRNA. GAMMA Investing LLC increased its stake in Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock valued at $38,000 after purchasing an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 purchasing an additional 529 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Verona Pharma during the 3rd quarter worth about $169,000. Marshall Wace LLP acquired a new position in shares of Verona Pharma in the second quarter valued at approximately $195,000. Finally, Claro Advisors LLC purchased a new stake in Verona Pharma in the 3rd quarter worth approximately $209,000. 85.88% of the stock is 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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