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

Verona Pharma (NASDAQ:VRNA - Free Report) had its price objective increased by Cantor Fitzgerald from $90.00 to $100.00 in a research report sent to investors on Wednesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Verona Pharma's FY2025 earnings at $0.14 EPS, FY2026 earnings at $1.31 EPS and FY2026 earnings at $12.56 EPS.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company raised their price target on Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. HC Wainwright raised 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. Canaccord Genuity Group raised their price objective on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Cowen assumed coverage on Verona Pharma in a report on Monday, April 28th. They set a "buy" rating on the stock. Finally, Roth Capital set a $83.00 price objective on Verona Pharma in a report on Friday, February 28th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Verona Pharma currently has an average rating of "Buy" and an average price target of $87.44.

Verona Pharma Price Performance

NASDAQ VRNA traded down $0.30 during trading hours on Wednesday, hitting $92.20. The company had a trading volume of 754,182 shares, compared to its average volume of 1,324,026. Verona Pharma has a 52 week low of $14.14 and a 52 week high of $93.74. The firm has a 50 day simple moving average of $71.08 and a 200 day simple moving average of $60.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of -48.02 and a beta of 0.21.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. Equities research analysts expect that Verona Pharma will post -1.95 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kathleen A. Rickard sold 34,384 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $308,768.32. Following the transaction, the insider now directly owns 2,660,656 shares in the company, valued at $23,892,690.88. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Zaccardelli sold 400,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total value of $4,560,000.00. Following the transaction, the chief executive officer now owns 13,190,168 shares in the company, valued at approximately $150,367,915.20. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,885,800 shares of company stock worth $19,134,481 in the last ninety days. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Verona Pharma

A number of large investors have recently made changes to their positions in VRNA. RTW Investments LP bought a new stake in shares of Verona Pharma in the 4th quarter worth approximately $84,568,000. Adage Capital Partners GP L.L.C. grew its position in shares of Verona Pharma by 381.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,631,000 shares of the company's stock worth $103,552,000 after buying an additional 1,292,575 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Verona Pharma by 61.0% in the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after buying an additional 1,146,609 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Verona Pharma in the 1st quarter worth approximately $58,716,000. Finally, Darwin Global Management Ltd. bought a new stake in shares of Verona Pharma in the 4th quarter worth approximately $37,637,000. 85.88% of the stock is currently owned by institutional investors.

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.