Verona Pharma (NASDAQ:VRNA) Trading 2.3% Higher

Verona Pharma plc (NASDAQ:VRNAGet Rating)’s stock price traded up 2.3% on Tuesday . The company traded as high as $10.32 and last traded at $10.32. 253 shares traded hands during trading, a decline of 100% from the average session volume of 403,765 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Verona Pharma from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. HC Wainwright increased their target price on shares of Verona Pharma from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 29th. Piper Sandler initiated coverage on shares of Verona Pharma in a research report on Friday, August 26th. They issued an “overweight” rating and a $31.00 price objective for the company. Finally, Wedbush raised their price objective on shares of Verona Pharma from $18.00 to $23.00 in a research report on Tuesday, August 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.80.

Verona Pharma Trading Up 3.6 %

The business’s 50 day moving average is $8.42 and its two-hundred day moving average is $5.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.57 and a quick ratio of 3.57.

Verona Pharma (NASDAQ:VRNAGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. On average, analysts anticipate that Verona Pharma plc will post -1.28 EPS for the current fiscal year.

Insider Activity at Verona Pharma

In related news, CEO David Zaccardelli sold 600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $1.75, for a total value of $1,050,000.00. Following the sale, the chief executive officer now directly owns 15,263,560 shares of the company’s stock, valued at $26,711,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 674,824 shares of company stock valued at $1,102,377 over the last three months. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VRNA. Woodline Partners LP purchased a new position in shares of Verona Pharma during the second quarter worth approximately $2,101,000. Citigroup Inc. purchased a new position in shares of Verona Pharma during the first quarter worth approximately $1,841,000. Ikarian Capital LLC purchased a new position in shares of Verona Pharma during the second quarter worth approximately $200,000. Renaissance Technologies LLC purchased a new position in shares of Verona Pharma during the second quarter worth approximately $118,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Verona Pharma during the first quarter worth approximately $66,000. 47.32% of the stock is owned by hedge funds and other institutional investors.

Verona Pharma Company Profile

(Get Rating)

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.

Further Reading

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