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

Verona Pharma plc (NASDAQ:VRNA)’s share price 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 trading, a decline of 69% from the average session volume of 911,415 shares. The stock had previously closed at $30.16.

Analyst Upgrades and Downgrades

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

Verona Pharma Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61. 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 business has a fifty day moving average price of $24.64 and a 200 day moving average price of $18.43.

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

Hedge Funds Weigh In On Verona Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC grew its stake in shares of Verona Pharma by 1.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock worth $1,011,000 after buying an additional 862 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Verona Pharma by 2.8% in the 4th quarter. D.A. Davidson & CO. now owns 33,400 shares of the company’s stock worth $664,000 after purchasing an additional 900 shares in the last quarter. 1492 Capital Management LLC increased its holdings in Verona Pharma by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 166,038 shares of the company’s stock worth $3,301,000 after purchasing an additional 1,579 shares in the last quarter. CWM LLC bought a new position in Verona Pharma in the second quarter valued at about $29,000. Finally, Cape Investment Advisory Inc. acquired a new stake in shares of Verona Pharma during the fourth quarter valued at about $40,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.