Verona Pharma (NASDAQ:VRNA) Price Target Raised to $100.00

Verona Pharma (NASDAQ:VRNA) had its price objective hoisted by research analysts at Cantor Fitzgerald from $90.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 9.57% from the company’s previous close. Cantor Fitzgerald also issued estimates for Verona Pharma’s FY2026 earnings at $12.56 EPS.

Several other equities analysts also recently weighed in on VRNA. Jefferies Financial Group lifted their target price on Verona Pharma from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. Cowen began coverage on shares of Verona Pharma in a report on Monday, April 28th. They set a “buy” rating on the stock. 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 target for the company. Roth Capital set a $83.00 price objective on Verona Pharma in a research note on Friday, February 28th. Finally, Canaccord Genuity Group boosted their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Verona Pharma has a consensus rating of “Buy” and an average price target of $87.44.

Verona Pharma Trading Up 5.2%

Shares of NASDAQ:VRNA traded up $4.48 during mid-day trading on Wednesday, reaching $91.26. 392,467 shares of the company were exchanged, compared to its average volume of 1,322,042. Verona Pharma has a 1 year low of $12.20 and a 1 year high of $91.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The firm’s 50-day simple moving average is $68.83 and its 200 day simple moving average is $59.33. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of -47.31 and a beta of 0.21.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analysts’ expectations of $41.47 million. Equities research analysts forecast that Verona Pharma will post -1.95 EPS for the current year.

Insider Activity

In related news, CEO David Zaccardelli sold 208,696 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $9.33, for a total value of $1,947,133.68. Following the transaction, the chief executive officer now directly owns 13,590,168 shares of the company’s stock, valued at $126,796,267.44. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kathleen A. Rickard sold 34,384 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $308,768.32. Following the completion of the sale, the insider now directly owns 2,660,656 shares of the company’s stock, valued at approximately $23,892,690.88. This trade represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,085,800 shares of company stock worth $10,014,481. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Verona Pharma

A number of large investors have recently made changes to their positions in VRNA. NBC Securities Inc. purchased a new stake in Verona Pharma in the first quarter valued at approximately $34,000. Geneos Wealth Management Inc. increased its holdings in shares of Verona Pharma by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company’s stock valued at $40,000 after acquiring an additional 193 shares during the period. Vermillion Wealth Management Inc. purchased a new stake in Verona Pharma in the 4th quarter valued at $46,000. Acadian Asset Management LLC purchased a new stake in Verona Pharma in the 1st quarter valued at $48,000. Finally, NewEdge Advisors LLC purchased a new position in Verona Pharma during the 1st quarter worth $58,000. 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.