Verona Pharma (NASDAQ:VRNA - Free Report) had its price target lifted by Jefferies Financial Group from $95.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
Other analysts have also issued research reports about the company. HC Wainwright boosted their target price on Verona Pharma from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research note on Friday, February 28th. Cowen began coverage on shares of Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating for the company. Cantor Fitzgerald began coverage on shares of Verona Pharma in a research note on Monday, April 21st. They issued an "overweight" rating and a $80.00 price target for the company. Finally, TD Cowen began coverage on shares of Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating and a $100.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $87.44.
Check Out Our Latest Report on VRNA
Verona Pharma Trading Down 0.3%
NASDAQ VRNA traded down $0.30 on Wednesday, reaching $92.20. The stock had a trading volume of 754,182 shares, compared to its average volume of 1,324,026. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of -48.02 and a beta of 0.21. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. Verona Pharma has a 12-month low of $14.14 and a 12-month high of $93.74. The stock has a fifty day moving average price of $71.08 and a two-hundred day moving average price of $60.40.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. As a group, sell-side analysts forecast that Verona Pharma will post -1.95 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO David Zaccardelli sold 400,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the transaction, the chief executive officer now owns 13,190,168 shares in the company, valued at approximately $150,367,915.20. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kathleen A. Rickard sold 114,984 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $8.82, for a total transaction of $1,014,158.88. Following the transaction, the insider now owns 2,546,472 shares of the company's stock, valued at approximately $22,459,883.04. The trade was a 4.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,885,800 shares of company stock worth $19,134,481. Corporate insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On Verona Pharma
A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Verona Pharma in the first quarter valued at $48,000. Geneos Wealth Management Inc. boosted its stake in Verona Pharma by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock valued at $40,000 after acquiring an additional 193 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Verona Pharma by 274.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,041,408 shares of the company's stock valued at $66,119,000 after acquiring an additional 763,353 shares in the last quarter. Temasek Holdings Private Ltd acquired a new position in Verona Pharma in the first quarter valued at $2,012,000. Finally, Scientech Research LLC acquired a new position in Verona Pharma in the first quarter valued at $809,000. Institutional investors and hedge funds own 85.88% of the company's stock.
Verona Pharma Company Profile
(
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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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