FY2024 Earnings Estimate for Verona Pharma plc (NASDAQ:VRNA) Issued By HC Wainwright

Verona Pharma plc (NASDAQ:VRNA) – Analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Verona Pharma in a research note issued to investors on Monday, July 1st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($1.44) for the year, down from their previous forecast of ($1.36). HC Wainwright currently has a “Buy” rating and a $36.00 price target 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 earnings results on Thursday, May 9th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.08).

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $35.00 price target on shares of Verona Pharma in a report on Thursday, June 27th. Piper Sandler raised their price target on Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, Truist Financial raised 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $35.60.

Verona Pharma Price Performance

Verona Pharma stock opened at $15.71 on Wednesday. The business has a 50 day simple moving average of $14.07 and a 200 day simple moving average of $16.11. Verona Pharma has a one year low of $11.39 and a one year high of $23.07. The company has a market capitalization of $1.27 billion, a PE ratio of -20.40 and a beta of 0.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 18.40 and a quick ratio of 18.40.

Institutional Trading of Verona Pharma

Institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its holdings in Verona Pharma by 95.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 426,931 shares of the company’s stock worth $6,959,000 after acquiring an additional 208,100 shares in the last quarter. Kennedy Capital Management LLC raised its position in Verona Pharma by 19.2% during the third quarter. Kennedy Capital Management LLC now owns 139,601 shares of the company’s stock valued at $2,275,000 after purchasing an additional 22,529 shares in the last quarter. American Century Companies Inc. acquired a new position in Verona Pharma during the third quarter valued at approximately $4,566,000. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 164,268 shares during the last quarter. Finally, Legato Capital Management LLC grew its stake in shares of Verona Pharma by 26.1% during the fourth quarter. Legato Capital Management LLC now owns 24,329 shares of the company’s stock worth $484,000 after buying an additional 5,032 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Verona Pharma news, insider Kathleen A. Rickard sold 36,248 shares of Verona Pharma 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 transaction, the insider now directly owns 2,621,552 shares in the company, valued at $5,138,241.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is owned by insiders.

About Verona Pharma

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.