Verona Pharma (NASDAQ:VRNA) Stock Price Down 3.9%

Shares of Verona Pharma plc (NASDAQ:VRNA) fell 3.9% during trading on Tuesday . The company traded as low as $28.93 and last traded at $28.99. 282,369 shares were traded during mid-day trading, a decline of 69% from the average session volume of 911,415 shares. The stock had previously closed at $30.16.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRNA. Canaccord Genuity Group boosted their price objective on shares of Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. HC Wainwright reiterated a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a report on Tuesday. Finally, Truist Financial upped their price objective on Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma has a consensus rating of “Buy” and a consensus target price of $36.00.

Verona Pharma Trading Down 3.2 %

The company has a market cap of $2.37 billion, a price-to-earnings ratio of -37.91 and a beta of 0.44. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average price is $24.64 and its 200-day moving average price is $18.43.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period in the previous year, the business posted ($0.11) EPS. On average, equities analysts anticipate that Verona Pharma plc will post -2.07 EPS for the current fiscal year.

Institutional Trading of Verona Pharma

Several institutional investors have recently added to or reduced their stakes in VRNA. CWM LLC acquired a new stake in shares of Verona Pharma during the second quarter worth $29,000. EMC Capital Management bought a new position in Verona Pharma during the second quarter worth about $38,000. Cape Investment Advisory Inc. acquired a new stake in Verona Pharma in the 4th quarter worth about $40,000. Legato Capital Management LLC bought a new stake in Verona Pharma in the 2nd quarter valued at about $154,000. Finally, Marshall Wace LLP acquired a new position in shares of Verona Pharma during the 2nd quarter worth approximately $195,000. 85.88% of the stock is currently owned by institutional investors.

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.