HC Wainwright Brokers Reduce Earnings Estimates for Verona Pharma plc (NASDAQ:VRNA)

Verona Pharma plc (NASDAQ:VRNA) – Analysts at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for Verona Pharma in a research report issued to clients and investors on Monday, July 1st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($1.44) per share for the year, down from their previous forecast 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 ($1.58) 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.

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

Verona Pharma Price Performance

Shares of VRNA stock opened at $15.71 on Wednesday. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $23.07. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -20.40 and a beta of 0.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 18.40 and a current ratio of 18.40. The stock’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $16.11.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings results 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).

Institutional Trading of Verona Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of VRNA. First Turn Management LLC acquired a new stake in shares of Verona Pharma in the 4th quarter worth $23,981,000. Eventide Asset Management LLC increased its stake in shares of Verona Pharma by 62.1% in the 4th 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. Bellevue Group AG increased its stake in shares of Verona Pharma by 35.6% in the 1st quarter. Bellevue Group AG now owns 1,139,295 shares of the company’s stock worth $18,331,000 after acquiring an additional 299,299 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Verona Pharma in the 3rd quarter worth $4,566,000. Finally, Affinity Asset Advisors LLC increased its stake in shares of Verona Pharma by 45.1% in the 1st quarter. Affinity Asset Advisors LLC now owns 817,833 shares of the company’s stock worth $13,159,000 after acquiring an additional 254,009 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 36,248 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $1.96, for a total value of $71,046.08. Following the transaction, the insider now owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is currently owned by insiders.

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.