Verona Pharma (NASDAQ:VRNA) Trading Up 4.9%

Verona Pharma plc (NASDAQ:VRNA)’s stock price shot up 4.9% during mid-day trading on Tuesday . The stock traded as high as $16.64 and last traded at $16.48. 44,083 shares were traded during mid-day trading, a decline of 91% from the average session volume of 515,261 shares. The stock had previously closed at $15.71.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wedbush reiterated an “outperform” rating and set a $33.00 price target on shares of Verona Pharma in a report on Friday, March 1st. HC Wainwright restated a “buy” rating and set a $32.00 price objective on shares of Verona Pharma in a research report on Monday, March 4th.

Verona Pharma Trading Up 2.2 %

The company has a quick ratio of 33.33, a current ratio of 33.33 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $16.97 and a 200 day moving average price of $16.20.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.07. Equities analysts forecast that Verona Pharma plc will post -1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of VRNA. Goldman Sachs Group Inc. boosted its stake in Verona Pharma by 57.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 40,067 shares of the company’s stock valued at $797,000 after acquiring an additional 14,668 shares in the last quarter. Eventide Asset Management LLC lifted its holdings in shares of Verona Pharma by 62.1% in the 4th quarter. Eventide Asset Management LLC now owns 1,377,781 shares of the company’s stock valued at $27,390,000 after purchasing an additional 527,781 shares during the last quarter. Legal & General Group Plc grew its stake in Verona Pharma by 18.7% during the 4th quarter. Legal & General Group Plc now owns 80,514 shares of the company’s stock worth $1,600,000 after buying an additional 12,664 shares during the last quarter. Parkman Healthcare Partners LLC increased its position in Verona Pharma by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 504,742 shares of the company’s stock worth $10,034,000 after buying an additional 86,809 shares during the period. Finally, Superstring Capital Management LP purchased a new stake in Verona Pharma in the fourth quarter valued at approximately $2,466,000. Institutional investors and hedge funds 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.