Brokers Issue Forecasts for Verona Pharma plc’s FY2024 Earnings (NASDAQ:VRNA)

Verona Pharma plc (NASDAQ:VRNA) – Research analysts at HC Wainwright decreased their FY2024 earnings per share estimates for shares of Verona Pharma in a research report issued on Monday, July 1st. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($1.44) per share for the year, down from their previous estimate of ($1.36). HC Wainwright has a “Buy” rating and a $36.00 price objective on the stock. The consensus estimate for Verona Pharma’s current full-year earnings is ($1.56) per share. HC Wainwright also issued estimates for Verona Pharma’s Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.24) EPS and FY2025 earnings at ($1.20) EPS.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08).

Several other analysts have also recently commented on the stock. Piper Sandler upped their target price on shares of Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $35.00 target price on shares of Verona Pharma in a research report on Thursday, June 27th. Finally, Truist Financial upped their target price on shares of Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma presently has an average rating of “Buy” and an average target price of $35.60.

Verona Pharma Trading Down 0.3 %

NASDAQ:VRNA opened at $15.46 on Wednesday. The stock’s fifty day moving average price is $14.06 and its two-hundred day moving average price is $16.11. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $23.07. The company has a quick ratio of 18.40, a current ratio of 18.40 and a debt-to-equity ratio of 0.22.

Insider Activity at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 36,248 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1.96, for a total transaction of $71,046.08. Following the completion of the transaction, the insider now owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verona Pharma

A number of large investors have recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new position in shares of Verona Pharma during the 4th quarter worth about $40,000. Tower Research Capital LLC TRC boosted its stake in shares of Verona Pharma by 950.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company’s stock worth $89,000 after buying an additional 4,067 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Verona Pharma during the 4th quarter worth about $226,000. PFG Investments LLC acquired a new stake in Verona Pharma in the 4th quarter valued at about $354,000. Finally, Matisse Capital acquired a new stake in Verona Pharma in the 1st quarter valued at about $312,000. 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.