Verona Pharma (NASDAQ:VRNA) Sees Unusually-High Trading Volume

Verona Pharma plc (NASDAQ:VRNA) saw unusually-high trading volume on Tuesday . Approximately 162,334 shares changed hands during mid-day trading, a decline of 74% from the previous session’s volume of 626,555 shares.The stock last traded at $15.77 and had previously closed at $15.69.

Wall Street Analysts Forecast Growth

VRNA has been the subject of several analyst reports. Piper Sandler upped their price objective on Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. HC Wainwright decreased their price target on Verona Pharma from $33.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Verona Pharma in a research report on Friday, March 1st. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.50.

Verona Pharma Stock Performance

The company has a 50-day simple moving average of $14.14 and a 200-day simple moving average of $16.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 18.40 and a current ratio of 18.40.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08). As a group, equities research analysts forecast that Verona Pharma plc will post -1.54 EPS for the current year.

Insider Activity

In other Verona Pharma news, insider Kathleen A. Rickard sold 36,248 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1.96, for a total transaction of $71,046.08. Following the transaction, the insider now directly owns 2,621,552 shares in the company, valued at $5,138,241.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Verona Pharma by 3.8% during the third quarter. Wellington Management Group LLP now owns 4,467,571 shares of the company’s stock worth $72,821,000 after purchasing an additional 164,268 shares in the last quarter. Janus Henderson Group PLC grew its stake in Verona Pharma by 12.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,031,994 shares of the company’s stock valued at $32,657,000 after acquiring an additional 228,633 shares during the last quarter. Jennison Associates LLC increased its holdings in Verona Pharma by 0.5% during the 1st quarter. Jennison Associates LLC now owns 1,593,833 shares of the company’s stock valued at $25,645,000 after acquiring an additional 8,448 shares in the last quarter. Eventide Asset Management LLC raised its position in Verona Pharma by 62.1% during the fourth quarter. Eventide Asset Management LLC now owns 1,377,781 shares of the company’s stock worth $27,390,000 after acquiring an additional 527,781 shares during the last quarter. Finally, First Turn Management LLC purchased a new stake in shares of Verona Pharma in the fourth quarter valued at about $23,981,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.