Verona Pharma (NASDAQ:VRNA) Announces Earnings Results

Verona Pharma (NASDAQ:VRNA) announced its quarterly earnings data on Monday. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12), Zacks reports. The company had revenue of $5.62 million during the quarter, compared to analysts’ expectations of $2.31 million. During the same quarter last year, the firm posted ($0.18) EPS.

Verona Pharma Stock Performance

VRNA traded up $0.47 on Tuesday, hitting $38.62. 182,878 shares of the company traded hands, compared to its average volume of 917,727. Verona Pharma has a 12-month low of $11.39 and a 12-month high of $39.38. The company has a 50 day moving average of $30.84 and a 200-day moving average of $22.33. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $3.14 billion, a PE ratio of -24.77 and a beta of 0.42.

Insider Buying and Selling at Verona Pharma

In other news, CEO David Zaccardelli sold 110,456 shares of Verona Pharma stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $4.38, for a total value of $483,797.28. Following the sale, the chief executive officer now owns 14,894,464 shares of the company’s stock, valued at $65,237,752.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Zaccardelli sold 110,456 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $4.38, for a total value of $483,797.28. Following the completion of the transaction, the chief executive officer now directly owns 14,894,464 shares of the company’s stock, valued at $65,237,752.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Hahn sold 116,696 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $4.38, for a total value of $511,128.48. Following the sale, the chief financial officer now owns 13,973,264 shares in the company, valued at approximately $61,202,896.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 868,840 shares of company stock worth $3,805,519. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Canaccord Genuity Group raised their target price on Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial lifted their price objective on shares of Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. HC Wainwright raised their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company began coverage on Verona Pharma in a research report on Thursday, October 3rd. They set an “overweight” rating and a $50.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $41.50.

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.