Verona Pharma (NASDAQ:VRNA) Earns “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Verona Pharma (NASDAQ:VRNA) in a report issued on Thursday morning, Benzinga reports. They currently have a $35.00 target price on the stock.

A number of other equities analysts have also weighed in on VRNA. Wedbush reaffirmed an outperform rating and set a $33.00 target price on shares of Verona Pharma in a research report on Friday, March 1st. HC Wainwright upped their target price on Verona Pharma from $32.00 to $36.00 and gave the stock a buy rating in a research report on Thursday. Finally, Piper Sandler upped their target price on Verona Pharma from $31.00 to $36.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma currently has a consensus rating of Buy and an average price target of $35.60.

Verona Pharma Price Performance

Shares of VRNA opened at $14.46 on Thursday. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $23.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 18.40 and a current ratio of 18.40. The business’s 50 day moving average price is $14.07 and its two-hundred day moving average price is $16.13. The firm has a market cap of $1.17 billion, a PE ratio of -18.78 and a beta of 0.34.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08). On average, equities analysts anticipate that Verona Pharma will post -1.54 EPS for the current year.

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 36,248 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $1.96, for a total value of $71,046.08. Following the completion of the sale, the insider now directly owns 2,621,552 shares of the company’s stock, valued at approximately $5,138,241.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Verona Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC raised its position in Verona Pharma by 1.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock valued at $1,011,000 after buying an additional 862 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Verona Pharma by 2.8% during the 4th quarter. D.A. Davidson & CO. now owns 33,400 shares of the company’s stock valued at $664,000 after purchasing an additional 900 shares during the last quarter. 1492 Capital Management LLC increased its position in shares of Verona Pharma by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 166,038 shares of the company’s stock valued at $3,301,000 after purchasing an additional 1,579 shares during the last quarter. Cape Investment Advisory Inc. purchased a new stake in shares of Verona Pharma during the 4th quarter valued at $40,000. Finally, Sei Investments Co. increased its position in shares of Verona Pharma by 3.7% during the 1st quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock valued at $1,195,000 after purchasing an additional 2,640 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.