Verona Pharma (NASDAQ:VRNA) Shares Gap Up to $12.07

Verona Pharma plc (NASDAQ:VRNAGet Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $12.07, but opened at $12.58. Verona Pharma shares last traded at $12.52, with a volume of 174,802 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. HC Wainwright reduced their target price on shares of Verona Pharma from $33.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 13th. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Verona Pharma in a report on Friday, March 1st. Finally, Piper Sandler raised their target price on shares of Verona Pharma from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Verona Pharma presently has a consensus rating of “Buy” and an average price target of $33.20.

View Our Latest Stock Analysis on VRNA

Verona Pharma Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 18.40 and a quick ratio of 18.40. The company’s 50-day moving average is $14.87 and its 200 day moving average is $16.10.

Verona Pharma (NASDAQ:VRNAGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.08). On average, research analysts expect that Verona Pharma plc will post -1.47 earnings per share for the current year.

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 36,248 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Verona Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. purchased a new stake in Verona Pharma in the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its position in Verona Pharma by 950.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company’s stock worth $89,000 after buying an additional 4,067 shares in the last quarter. Jump Financial LLC purchased a new stake in Verona Pharma in the 4th quarter worth approximately $226,000. Rathbones Group PLC lifted its position in Verona Pharma by 66.7% in the 3rd quarter. Rathbones Group PLC now owns 15,976 shares of the company’s stock worth $260,000 after buying an additional 6,392 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in Verona Pharma in the 4th quarter worth approximately $354,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Verona Pharma Company Profile

(Get Free Report)

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.

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