Verona Pharma plc (NASDAQ:VRNA) Receives $81.50 Consensus Target Price from Analysts

Shares of Verona Pharma plc (NASDAQ:VRNA) have received an average rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $81.50.

Several research firms have weighed in on VRNA. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research report on Friday, February 28th. TD Cowen started coverage on shares of Verona Pharma in a research note on Monday, April 28th. They issued a “buy” rating and a $100.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Verona Pharma from $93.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. HC Wainwright increased their price objective on shares of Verona Pharma from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th.

Verona Pharma Price Performance

Shares of VRNA opened at $74.73 on Friday. The stock has a market cap of $6.06 billion, a PE ratio of -38.92 and a beta of 0.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $75.47. The firm’s 50-day simple moving average is $63.96 and its two-hundred day simple moving average is $54.93.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. Analysts anticipate that Verona Pharma will post -1.95 earnings per share for the current fiscal year.

Insider Activity at Verona Pharma

In other Verona Pharma news, Director Vikas Sinha sold 20,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total value of $178,400.00. Following the transaction, the director now owns 74,440 shares of the company’s stock, valued at $664,004.80. This represents a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kathleen A. Rickard sold 79,264 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the transaction, the insider now directly owns 2,608,976 shares in the company, valued at $21,784,949.60. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 365,064 shares of company stock valued at $3,208,741. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verona Pharma

A number of institutional investors have recently modified their holdings of VRNA. NBC Securities Inc. acquired a new position in shares of Verona Pharma in the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new position in shares of Verona Pharma in the 4th quarter valued at $46,000. NewEdge Advisors LLC acquired a new position in shares of Verona Pharma in the 1st quarter valued at $58,000. GF Fund Management CO. LTD. acquired a new position in shares of Verona Pharma in the 4th quarter valued at $72,000. Finally, Advisors Preferred LLC increased its holdings in shares of Verona Pharma by 65.4% in the 1st quarter. Advisors Preferred LLC now owns 1,599 shares of the company’s stock valued at $94,000 after acquiring an additional 632 shares during the period. 85.88% of the stock is 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.