Verona Pharma plc (NASDAQ:VRNA – Get Free Report) traded down 3.9% on Tuesday . The stock traded as low as $28.93 and last traded at $28.99. 282,369 shares changed hands during trading, a decline of 69% from the average session volume of 911,415 shares. The stock had previously closed at $30.16.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Verona Pharma from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 28th. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of Verona Pharma in a report on Tuesday. Finally, Canaccord Genuity Group raised their price target on shares of Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.00.
Read Our Latest Research Report on VRNA
Verona Pharma Trading Up 0.6 %
Verona Pharma (NASDAQ:VRNA – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same period in the previous year, the business earned ($0.11) EPS. Equities analysts anticipate that Verona Pharma plc will post -2.07 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Verona Pharma
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC boosted its position in shares of Verona Pharma by 1.7% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock worth $1,011,000 after purchasing an additional 862 shares in the last quarter. D.A. Davidson & CO. lifted its position in Verona Pharma by 2.8% during the 4th quarter. D.A. Davidson & CO. now owns 33,400 shares of the company’s stock worth $664,000 after buying an additional 900 shares in the last quarter. 1492 Capital Management LLC lifted its position in Verona Pharma by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 166,038 shares of the company’s stock worth $3,301,000 after buying an additional 1,579 shares in the last quarter. CWM LLC bought a new stake in Verona Pharma during the 2nd quarter worth about $29,000. Finally, Cape Investment Advisory Inc. bought a new stake in Verona Pharma during the 4th quarter worth about $40,000. 85.88% of the stock is owned by institutional investors.
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.
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