Verona Pharma plc (NASDAQ:VRNA) Forecasted to Post Q4 2023 Earnings of ($0.03) Per Share

Verona Pharma plc (NASDAQ:VRNA) – Analysts at HC Wainwright lifted their Q4 2023 earnings per share (EPS) estimates for shares of Verona Pharma in a report issued on Wednesday, November 8th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($0.03) per share for the quarter, up from their previous estimate of ($0.32). HC Wainwright currently has a “Buy” rating and a $32.00 target price on the stock. The consensus estimate for Verona Pharma’s current full-year earnings is ($0.74) per share. HC Wainwright also issued estimates for Verona Pharma’s Q1 2024 earnings at ($0.03) EPS, Q2 2024 earnings at ($0.04) EPS, Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.03) EPS and FY2024 earnings at ($0.14) EPS.

VRNA has been the subject of several other reports. Wedbush restated an “outperform” rating and set a $33.00 price objective on shares of Verona Pharma in a research report on Thursday, November 2nd. Canaccord Genuity Group restated a “buy” rating and set a $35.00 price objective on shares of Verona Pharma in a research report on Friday, September 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $32.60.

Verona Pharma Stock Performance

VRNA opened at $13.72 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 30.68 and a current ratio of 30.68. Verona Pharma has a 52-week low of $11.56 and a 52-week high of $26.44. The firm has a market cap of $8.72 billion, a P/E ratio of -19.88 and a beta of 0.28. The business’s fifty day moving average is $15.57 and its 200-day moving average is $18.85.

Institutional Investors Weigh In On Verona Pharma

Large investors have recently added to or reduced their stakes in the business. Tucker Asset Management LLC acquired a new stake in Verona Pharma during the first quarter worth approximately $49,000. UBS Group AG grew its stake in Verona Pharma by 435.9% during the fourth quarter. UBS Group AG now owns 4,169 shares of the company’s stock worth $109,000 after purchasing an additional 3,391 shares during the period. Tower Research Capital LLC TRC grew its stake in Verona Pharma by 520.2% during the first quarter. Tower Research Capital LLC TRC now owns 4,534 shares of the company’s stock worth $91,000 after purchasing an additional 3,803 shares during the period. SG Americas Securities LLC acquired a new stake in Verona Pharma during the first quarter worth approximately $105,000. Finally, New York State Common Retirement Fund acquired a new stake in Verona Pharma during the first quarter worth approximately $143,000. Institutional investors and hedge funds own 9.89% of the company’s stock.

Insider Buying and Selling at Verona Pharma

In other news, Director David R. Ebsworth bought 160,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $1.98 per share, for a total transaction of $316,800.00. Following the completion of the transaction, the director now owns 844,643 shares of the company’s stock, valued at $1,672,393.14. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director David R. Ebsworth purchased 160,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was bought at an average price of $1.98 per share, with a total value of $316,800.00. Following the completion of the purchase, the director now owns 844,643 shares in the company, valued at approximately $1,672,393.14. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kathleen A. Rickard sold 58,752 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $1.92, for a total value of $112,803.84. Following the completion of the sale, the insider now directly owns 2,840,640 shares of the company’s stock, valued at approximately $5,454,028.80. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

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.