Verona Pharma (NASDAQ:VRNA) Reaches New 12-Month High – What’s Next?

by · The Cerbat Gem

Verona Pharma plc (NASDAQ:VRNA – Get Free Report)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $32.92 and last traded at $32.85, with a volume of 633818 shares. The stock had previously closed at $31.37.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VRNA. Wells Fargo & Company began coverage on Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 target price on the stock. Canaccord Genuity Group lifted their price objective on Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Truist Financial increased their target price on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Verona Pharma currently has an average rating of “Buy” and a consensus price target of $39.33.

Read Our Latest Report on Verona Pharma

Verona Pharma Stock Performance

The firm’s 50 day simple moving average is $27.60 and its 200 day simple moving average is $20.09. The firm has a market cap of $2.65 billion, a PE ratio of -20.76 and a beta of 0.44. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.72.

Verona Pharma (NASDAQ:VRNA – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same period in the prior year, the firm posted ($0.11) earnings per share. On average, research analysts forecast that Verona Pharma plc will post -2.07 EPS for the current fiscal year.

Institutional Trading of Verona Pharma

Large investors have recently made changes to their positions in the business. NEA Management Company LLC grew its position in Verona Pharma by 9.3% in the second quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock worth $80,756,000 after acquiring an additional 476,190 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in shares of Verona Pharma by 10.0% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company’s stock worth $47,925,000 after purchasing an additional 300,000 shares during the period. Maverick Capital Ltd. increased its position in shares of Verona Pharma by 74.2% during the 2nd quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company’s stock valued at $44,722,000 after purchasing an additional 1,316,998 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Verona Pharma by 12.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,031,994 shares of the company’s stock valued at $32,657,000 after buying an additional 228,633 shares during the period. Finally, Jennison Associates LLC boosted its stake in Verona Pharma by 0.5% during the first quarter. Jennison Associates LLC now owns 1,593,833 shares of the company’s stock worth $25,645,000 after buying an additional 8,448 shares during the period. 85.88% of the stock is currently owned by institutional investors.

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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