Verona Pharma (NASDAQ:VRNA) Trading Down 3.6% – Should You Sell?

Shares of Verona Pharma plc (NASDAQ:VRNA) fell 3.6% during trading on Monday . The stock traded as low as $44.73 and last traded at $44.90. 83,366 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,145,106 shares. The stock had previously closed at $46.59.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on VRNA. Truist Financial increased their target price on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price target on shares of Verona Pharma from $50.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Canaccord Genuity Group increased their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, HC Wainwright raised their target price on shares of Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verona Pharma presently has an average rating of “Buy” and an average price target of $43.83.

Verona Pharma Price Performance

The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.64 billion, a P/E ratio of -23.55 and a beta of 0.40. The firm’s fifty day moving average price is $40.09 and its 200-day moving average price is $30.65.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The company had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the prior year, the business posted ($0.18) EPS. Analysts forecast that Verona Pharma plc will post -2.11 earnings per share for the current year.

Insider Activity at Verona Pharma

In other news, CFO Mark W. Hahn sold 249,728 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the sale, the chief financial officer now owns 14,089,960 shares in the company, valued at approximately $61,714,024.80. The trade was a 1.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Zaccardelli sold 110,456 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $4.38, for a total transaction of $483,797.28. Following the sale, the chief executive officer now owns 14,894,464 shares in the company, valued at approximately $65,237,752.32. This trade represents a 0.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,094,432 shares of company stock worth $9,748,833 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

A number of large investors have recently made changes to their positions in VRNA. GAMMA Investing LLC grew its stake in shares of Verona Pharma by 70.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after acquiring an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after acquiring an additional 529 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Verona Pharma during the 3rd quarter valued at approximately $169,000. Marshall Wace LLP bought a new position in shares of Verona Pharma during the 2nd quarter valued at approximately $195,000. Finally, Claro Advisors LLC bought a new position in shares of Verona Pharma during the 3rd quarter valued at approximately $209,000. 85.88% of the stock is currently owned by institutional investors.

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.