Verona Pharma (NASDAQ:VRNA) Shares Down 7.6%

Verona Pharma plc (NASDAQ:VRNAGet Free Report) shares traded down 7.6% during mid-day trading on Thursday . The company traded as low as $15.42 and last traded at $15.42. 80,327 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 538,963 shares. The stock had previously closed at $16.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Verona Pharma in a report on Friday, March 1st. HC Wainwright reaffirmed a “buy” rating and set a $32.00 target price on shares of Verona Pharma in a research note on Monday, March 4th.

Read Our Latest Stock Analysis on VRNA

Verona Pharma Price Performance

The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -22.68 and a beta of 0.42. The company has a quick ratio of 33.33, a current ratio of 33.33 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $17.38 and its 200-day moving average price is $16.41.

Institutional Trading of Verona Pharma

Hedge funds have recently made changes to their positions in the business. Cape Investment Advisory Inc. acquired a new stake in Verona Pharma in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets raised its holdings in Verona Pharma by 125.3% during the fourth quarter. BNP Paribas Financial Markets now owns 2,028 shares of the company’s stock worth $40,000 after purchasing an additional 1,128 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Verona Pharma during the second quarter worth approximately $49,000. Tower Research Capital LLC TRC raised its holdings in Verona Pharma by 950.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company’s stock worth $89,000 after purchasing an additional 4,067 shares in the last quarter. Finally, UBS Group AG raised its holdings in Verona Pharma by 30.3% during the first quarter. UBS Group AG now owns 5,432 shares of the company’s stock worth $109,000 after purchasing an additional 1,263 shares in the last quarter. Institutional investors and hedge funds own 9.89% of the company’s stock.

Verona Pharma Company Profile

(Get Free Report)

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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