Verona Pharma (NASDAQ:VRNA) Hits New 52-Week High at $24.12

Verona Pharma plc (NASDAQ:VRNA) hit a new 52-week high on Monday . The stock traded as high as $24.12 and last traded at $24.10, with a volume of 553119 shares changing hands. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VRNA shares. Piper Sandler boosted their price objective on Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. HC Wainwright boosted their price target on shares of Verona Pharma from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Canaccord Genuity Group raised their price objective on shares of Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Truist Financial lifted their price objective on shares of Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 28th. Five research 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 price target of $36.00.

Verona Pharma Price Performance

The firm has a market cap of $2.21 billion, a PE ratio of -35.47 and a beta of 0.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61. The business’s fifty day moving average is $18.78 and its 200-day moving average is $16.76.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings data 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 quarter last year, the firm posted ($0.11) earnings per share. On average, research analysts predict that Verona Pharma plc will post -1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verona Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Turn Management LLC purchased a new stake in shares of Verona Pharma in the fourth quarter worth about $23,981,000. Candriam S.C.A. purchased a new stake in Verona Pharma in the 2nd quarter worth approximately $11,177,000. Eventide Asset Management LLC lifted its stake in Verona Pharma by 62.1% in the 4th quarter. Eventide Asset Management LLC now owns 1,377,781 shares of the company’s stock worth $27,390,000 after purchasing an additional 527,781 shares in the last quarter. American Century Companies Inc. boosted its holdings in Verona Pharma by 56.6% in the 2nd quarter. American Century Companies Inc. now owns 878,043 shares of the company’s stock valued at $12,697,000 after purchasing an additional 317,184 shares during the period. Finally, Bellevue Group AG grew its position in shares of Verona Pharma by 35.6% during the 1st quarter. Bellevue Group AG now owns 1,139,295 shares of the company’s stock valued at $18,331,000 after purchasing an additional 299,299 shares in the last quarter. 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.