Verona Pharma (NASDAQ:VRNA) Announces Quarterly Earnings Results

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

Verona Pharma Trading Up 9.1 %

NASDAQ VRNA opened at $38.15 on Tuesday. The firm’s 50 day moving average price is $30.84 and its two-hundred day moving average price is $22.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61. Verona Pharma has a twelve month low of $11.39 and a twelve month high of $39.38. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -24.77 and a beta of 0.42.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial increased their target price 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. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of Verona Pharma in a report on Tuesday, October 1st. Canaccord Genuity Group raised their price objective on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research note 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 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $40.50.

Insider Activity

In other news, CFO Mark W. Hahn sold 141,360 shares of Verona Pharma stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $4.38, for a total transaction of $619,156.80. Following the transaction, the chief financial officer now owns 13,672,560 shares in the company, valued at approximately $59,885,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark W. Hahn sold 141,360 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $4.38, for a total value of $619,156.80. Following the completion of the sale, the chief financial officer now directly owns 13,672,560 shares of the company’s stock, valued at approximately $59,885,812.80. 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. Also, CFO Mark W. Hahn sold 249,728 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,093,808.64. Following the sale, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at $61,714,024.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 868,840 shares of company stock worth $3,805,519 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

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.