Analysts Set Verona Pharma plc (NASDAQ:VRNA) Target Price at $82.13

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) has received a consensus rating of "Buy" from the ten brokerages that are currently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $87.44.

VRNA has been the subject of a number of research analyst reports. Cowen assumed coverage on Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating for the company. Cantor Fitzgerald increased their price objective on Verona Pharma from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. TD Cowen started coverage on shares of Verona Pharma in a research report on Monday, April 28th. They issued a "buy" rating and a $100.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th.

Verona Pharma Price Performance

Verona Pharma stock traded up $3.27 during midday trading on Tuesday, reaching $90.05. 2,827,649 shares of the stock were exchanged, compared to its average volume of 1,331,301. The firm has a market cap of $7.30 billion, a PE ratio of -46.90 and a beta of 0.21. Verona Pharma has a 52 week low of $12.20 and a 52 week high of $92.91. The company's fifty day moving average is $68.83 and its 200-day moving average is $59.33. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. On average, sell-side analysts forecast that Verona Pharma will post -1.95 EPS for the current year.

Insider Buying and Selling

In other Verona Pharma news, General Counsel Andrew Fisher sold 26,072 shares of Verona Pharma 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 transaction, the general counsel now directly owns 359,993 shares of the company's stock, valued at $3,232,737.14. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen A. Rickard sold 114,984 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $8.82, for a total transaction of $1,014,158.88. Following the completion of the transaction, the insider now owns 2,546,472 shares in the company, valued at approximately $22,459,883.04. This represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,085,800 shares of company stock valued at $10,014,481. 4.80% of the stock is owned by corporate insiders.

Institutional Trading of Verona Pharma

Institutional investors have recently bought and sold shares of the business. RTW Investments LP acquired a new stake in shares of Verona Pharma in the fourth quarter valued at approximately $84,568,000. Adage Capital Partners GP L.L.C. grew its stake in 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 valued at $103,552,000 after acquiring an additional 1,292,575 shares during the last quarter. Wellington Management Group LLP raised its stake in Verona Pharma by 61.0% in the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock valued at $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Verona Pharma during the first quarter worth approximately $58,716,000. Finally, Darwin Global Management Ltd. purchased a new stake in Verona Pharma in the 4th quarter worth approximately $37,637,000. 85.88% of the stock is owned by hedge funds and other 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.