Brokers Issue Forecasts for Verona Pharma FY2024 Earnings

Verona Pharma plc (NASDAQ:VRNA) – HC Wainwright cut their FY2024 earnings estimates for shares of Verona Pharma in a research report issued on Tuesday, November 5th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of ($2.16) for the year, down from their previous forecast of ($2.00). HC Wainwright currently has a “Buy” rating and a $42.00 price target on the stock. The consensus estimate for Verona Pharma’s current full-year earnings is ($2.07) per share. HC Wainwright also issued estimates for Verona Pharma’s Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.40) EPS and FY2025 earnings at ($1.36) EPS.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The company had revenue of $5.62 million for the quarter, compared to the consensus estimate of $2.31 million. During the same period last year, the firm posted ($0.18) EPS.

VRNA has been the subject of a number of other reports. Canaccord Genuity Group raised their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial raised their price objective on shares of Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price objective on shares of Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $43.83.

Verona Pharma Stock Up 1.6 %

Shares of Verona Pharma stock opened at $38.18 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61. The company has a 50-day moving average of $31.28 and a 200 day moving average of $22.59. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -19.89 and a beta of 0.42. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $39.40.

Insider Activity

In related news, Director David R. Ebsworth acquired 39,360 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was purchased at an average cost of $4.80 per share, with a total value of $188,928.00. Following the completion of the acquisition, the director now directly owns 920,003 shares of the company’s stock, valued at approximately $4,416,014.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Verona Pharma news, Director David R. Ebsworth bought 39,360 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was bought at an average cost of $4.80 per share, for a total transaction of $188,928.00. Following the completion of the transaction, the director now owns 920,003 shares of the company’s stock, valued at $4,416,014.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Zaccardelli sold 46,888 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $4.38, for a total transaction of $205,369.44. Following the sale, the chief executive officer now owns 15,298,896 shares of the company’s stock, valued at $67,009,164.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,139,544 shares of company stock valued at $4,992,952 over the last three months. Insiders own 4.80% of the company’s stock.

Institutional Trading of Verona Pharma

Several large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its position in Verona Pharma by 25.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after buying an additional 529 shares during the period. GAMMA Investing LLC boosted its position in shares of Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after purchasing an additional 553 shares during the period. CWM LLC bought a new position in shares of Verona Pharma in the second quarter worth approximately $29,000. EMC Capital Management bought a new position in shares of Verona Pharma in the second quarter worth approximately $38,000. Finally, Sei Investments Co. boosted its position in shares of Verona Pharma by 3.7% in the first quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock worth $1,195,000 after purchasing an additional 2,640 shares during the period. 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.