Verona Pharma (NASDAQ:VRNA) Announces Quarterly Earnings Results

Verona Pharma (NASDAQ:VRNA) issued its earnings results on Monday. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12), Zacks reports. The firm had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the previous year, the business posted ($0.18) earnings per share.

Verona Pharma Price Performance

VRNA stock traded down $0.42 during trading hours on Thursday, hitting $37.17. 137,270 shares of the stock traded hands, compared to its average volume of 919,952. Verona Pharma has a one year low of $11.39 and a one year high of $39.40. The company has a market cap of $3.02 billion, a P/E ratio of -19.58 and a beta of 0.42. 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 stock has a 50-day simple moving average of $31.28 and a 200 day simple moving average of $22.59.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CEO David Zaccardelli sold 245,784 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,076,533.92. Following the completion of the sale, the chief executive officer now directly owns 15,004,920 shares of the company’s stock, valued at approximately $65,721,549.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Verona Pharma news, CEO David Zaccardelli sold 245,784 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,076,533.92. Following the sale, the chief executive officer now owns 15,004,920 shares of the company’s stock, valued at $65,721,549.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark W. Hahn sold 249,728 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,093,808.64. Following the completion of the sale, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at $61,714,024.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,139,544 shares of company stock valued at $4,992,952 over the last three months. Insiders own 4.80% of the company’s stock.

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.