Cantor Fitzgerald Issues Positive Forecast for Verona Pharma (NASDAQ:VRNA) Stock Price

Verona Pharma (NASDAQ:VRNA) had its price target upped by stock analysts at Cantor Fitzgerald from $90.00 to $100.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 8.11% from the company’s previous close. Cantor Fitzgerald also issued estimates for Verona Pharma’s FY2026 earnings at $12.56 EPS.

Several other analysts have also commented on the stock. Wells Fargo & Company increased their price target on shares of Verona Pharma from $93.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. HC Wainwright raised their target price on shares of Verona Pharma from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. Jefferies Financial Group raised their target price on shares of Verona Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group raised their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, TD Cowen started coverage on shares of Verona Pharma in a research report on Monday, April 28th. They set a “buy” rating and a $100.00 target price on the stock. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Verona Pharma currently has an average rating of “Buy” and a consensus target price of $87.44.

Verona Pharma Stock Up 2.7%

VRNA stock opened at $92.50 on Wednesday. The company’s 50 day simple moving average is $70.32 and its 200-day simple moving average is $59.90. The firm has a market capitalization of $7.50 billion, a PE ratio of -48.18 and a beta of 0.21. Verona Pharma has a 12 month low of $14.14 and a 12 month high of $93.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. Equities analysts expect that Verona Pharma will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kathleen A. Rickard sold 34,384 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total value of $308,768.32. Following the completion of the sale, the insider now owns 2,660,656 shares in the company, valued at approximately $23,892,690.88. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Hahn sold 204,864 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $9.33, for a total value of $1,911,381.12. Following the completion of the sale, the chief financial officer now owns 12,678,992 shares of the company’s stock, valued at approximately $118,294,995.36. This trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,085,800 shares of company stock valued at $10,014,481 over the last quarter. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRNA. RTW Investments LP purchased a new stake in Verona Pharma during the 4th quarter worth $84,568,000. Adage Capital Partners GP L.L.C. grew its holdings in Verona Pharma by 381.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,631,000 shares of the company’s stock worth $103,552,000 after acquiring an additional 1,292,575 shares in the last quarter. Wellington Management Group LLP grew its holdings in Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company’s stock worth $140,492,000 after acquiring an additional 1,146,609 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Verona Pharma during the 1st quarter worth $58,716,000. Finally, Darwin Global Management Ltd. acquired a new position in Verona Pharma during the 4th quarter worth $37,637,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.