Verona Pharma (NASDAQ:VRNA) Given New $100.00 Price Target at Cantor Fitzgerald

Verona Pharma (NASDAQ:VRNA - Free Report) had its target price lifted by Cantor Fitzgerald from $90.00 to $100.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Verona Pharma's FY2026 earnings at $12.56 EPS.

Several other research firms have also recently weighed in on VRNA. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a research report on Friday, February 28th. HC Wainwright boosted their price target on Verona Pharma from $85.00 to $90.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Cowen initiated coverage on shares of Verona Pharma in a report on Monday, April 28th. They set a "buy" rating on the stock. Jefferies Financial Group increased their price objective on Verona Pharma from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, TD Cowen assumed coverage on Verona Pharma in a research note on Monday, April 28th. They set a "buy" rating and a $100.00 target price for the company. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $87.44.

Verona Pharma Stock Performance

NASDAQ VRNA traded up $2.76 during midday trading on Wednesday, hitting $92.81. The company had a trading volume of 801,444 shares, compared to its average volume of 1,467,953. The firm has a fifty day simple moving average of $69.56 and a two-hundred day simple moving average of $59.54. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. Verona Pharma has a fifty-two week low of $14.14 and a fifty-two week high of $93.03. The stock has a market cap of $7.53 billion, a price-to-earnings ratio of -48.34 and a beta of 0.21.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. Equities analysts forecast that Verona Pharma will post -1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Andrew Fisher sold 26,072 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $234,126.56. Following the completion of the sale, the general counsel now owns 359,993 shares in the company, valued at approximately $3,232,737.14. This trade represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kathleen A. Rickard sold 114,984 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $8.82, for a total value of $1,014,158.88. Following the completion of the sale, the insider now owns 2,546,472 shares in the company, valued at approximately $22,459,883.04. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,085,800 shares of company stock valued at $10,014,481 over the last quarter. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VRNA. Choreo LLC bought a new position in Verona Pharma in the 4th quarter worth about $230,000. Legato Capital Management LLC boosted its position in Verona Pharma by 132.9% during the 4th quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock valued at $1,154,000 after buying an additional 14,183 shares during the period. Values First Advisors Inc. increased its holdings in Verona Pharma by 36.9% during the 4th quarter. Values First Advisors Inc. now owns 23,505 shares of the company's stock valued at $1,092,000 after purchasing an additional 6,331 shares during the period. New York State Common Retirement Fund bought a new position in shares of Verona Pharma during the fourth quarter valued at approximately $285,000. Finally, Jacobson & Schmitt Advisors LLC purchased a new stake in shares of Verona Pharma in the 4th quarter worth about $2,032,000. 85.88% of the stock is owned by 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.