Verona Pharma (NASDAQ:VRNA) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Verona Pharma (NASDAQ:VRNA) to a strong-buy rating in a report issued on Friday,Zacks.com reports.

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday. Roth Mkm started coverage on shares of Verona Pharma in a research note on Friday. They set a “buy” rating and a $68.00 target price on the stock. HC Wainwright lifted their price target on Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Truist Financial reiterated a “buy” rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $50.57.

Verona Pharma Stock Down 2.2 %

VRNA stock opened at $45.20 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company’s 50 day simple moving average is $41.33 and its 200-day simple moving average is $31.52. Verona Pharma has a 12 month low of $11.39 and a 12 month high of $51.80. The firm has a market capitalization of $3.64 billion, a PE ratio of -23.54 and a beta of 0.40.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). 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 company posted ($0.18) earnings per share. Equities analysts expect that Verona Pharma will post -2.11 earnings per share for the current fiscal year.

Insider Transactions at Verona Pharma

In related news, Director David R. Ebsworth acquired 39,360 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $4.80 per share, with a total value of $188,928.00. Following the acquisition, the director now owns 920,003 shares of the company’s stock, valued at approximately $4,416,014.40. This trade represents a 4.47 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Zaccardelli sold 245,784 shares of Verona Pharma stock in a transaction dated Friday, October 18th. The shares were 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 approximately $65,721,549.60. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,094,432 shares of company stock worth $9,748,833. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Verona Pharma

Hedge funds have recently modified their holdings of the company. First Turn Management LLC purchased a new stake in Verona Pharma in the third quarter worth about $16,483,000. Wellington Management Group LLP lifted its stake in shares of Verona Pharma by 19.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock worth $54,048,000 after purchasing an additional 307,272 shares during the period. GSA Capital Partners LLP bought a new position in shares of Verona Pharma in the 3rd quarter worth approximately $849,000. Crossmark Global Holdings Inc. purchased a new position in shares of Verona Pharma in the third quarter worth approximately $465,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Verona Pharma during the second quarter valued at approximately $859,000. Hedge funds and other institutional investors own 85.88% 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.