Verona Pharma (NASDAQ:VRNA) Issues Quarterly Earnings Results

Verona Pharma (NASDAQ:VRNA) posted its quarterly earnings data on Monday. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12), Zacks reports. The firm had revenue of $5.62 million for the quarter, compared to the consensus estimate of $2.31 million. During the same period in the prior year, the company posted ($0.18) earnings per share.

Verona Pharma Stock Performance

VRNA stock traded up $0.47 during trading on Tuesday, hitting $38.62. 182,878 shares of the company’s stock traded hands, compared to its average volume of 917,727. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -24.77 and a beta of 0.42. Verona Pharma has a 52 week low of $11.39 and a 52 week high of $39.38. The stock has a fifty day moving average price of $30.84 and a two-hundred day moving average price of $22.33. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72.

Insider Activity

In other Verona Pharma news, CFO Mark W. Hahn sold 141,360 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $4.38, for a total value of $619,156.80. Following the completion of the transaction, the chief financial officer now owns 13,672,560 shares in the company, valued at approximately $59,885,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO David Zaccardelli sold 245,784 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,076,533.92. Following the completion of the sale, the chief executive officer now owns 15,004,920 shares in the company, valued at $65,721,549.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Hahn sold 141,360 shares of Verona Pharma stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $4.38, for a total value of $619,156.80. Following the transaction, the chief financial officer now directly owns 13,672,560 shares in the company, valued at approximately $59,885,812.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 868,840 shares of company stock valued at $3,805,519. Company insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VRNA shares. Truist Financial upped their price target on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. 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 report on Tuesday. Wells Fargo & Company started coverage on shares of Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 price objective on the stock. Finally, HC Wainwright upped their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $41.50.

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.