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Verona Pharma plc (VRNA) Suffers From Weak Fundamental Momentum

Verona Pharma plc (NASDAQ:VRNA) has seen 0.67 million shares traded in the recent trading session. The company, currently valued at $1.57B, closed the recent trade at $23.15 per share which meant it gained $0.09 on the day or 0.37% during that session. The VRNA stock price is -14.21% off its 52-week high price of $26.44 and 85.27% above the 52-week low of $3.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.51 million shares traded. The 3-month trading volume is 913.33K shares.

The consensus among analysts is that Verona Pharma plc (VRNA) is a Buy stock at the moment, with a recommendation rating of 1.40. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 7 have rated it as a Hold, with 7 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.16.

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Verona Pharma plc (NASDAQ:VRNA) trade information

Sporting 0.37% in the green today, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the VRNA stock price touched $23.15 or saw a rise of 4.54%. Year-to-date, Verona Pharma plc shares have moved -11.75%, while the 5-day performance has seen it change -2.66%. Over the past 30 days, the shares of Verona Pharma plc (NASDAQ:VRNA) have changed -0.65%. Short interest in the company has seen 0.76 million shares shorted with days to cover at 3.49.

Wall Street analysts have a consensus price target for the stock at $29.57, which means that the shares’ value could jump 21.71% from the levels at last check today. The projected low price target is $26.00 while the price target rests at a high of $33.00. In that case, then, we find that the latest price level in today’s session is -42.55% off the targeted high while a plunge would see the stock gain -12.31% from the levels at last check today.

Verona Pharma plc (VRNA) estimates and forecasts

Figures show that Verona Pharma plc shares have underperformed across the wider relevant industry. The company’s shares have gained 313.26% over the past 6 months, with this year growth rate of -17.71%, compared to 4.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -200.00% and 57.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be -82.20%.

7 analysts offering their estimates for the company have set an average revenue estimate of $3.57 million for the current quarter. 7 have an estimated revenue figure of $3.57 million for the next quarter concluding in Dec 2022.

VRNA Dividends

Verona Pharma plc is expected to release its next earnings report on November 09 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Verona Pharma plc (NASDAQ:VRNA)’s Major holders

Insiders own 10.59% of the company shares, while shares held by institutions stand at 49.17% with a share float percentage of 54.99%. Investors are also buoyed by the number of investors in a company, with Verona Pharma plc having a total of 49 institutions that hold shares in the company. The top two institutional holders are Orbimed Advisors LLC. with over 5.69 million shares worth more than $23.86 million. As of Jun 29, 2022, Orbimed Advisors LLC. held 7.83% of shares outstanding.

The other major institutional holder is NEA Management Company, LLC, with the holding of over 5.11 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $21.4 million and represent 7.02% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Tekla World Healthcare Fund and Tekla Life Sciences Investors. As of Jun 29, 2022, the former fund manager holds about 0.60% shares in the company for having 0.44 million shares of worth $1.83 million while later fund manager owns 0.32 million shares of worth $1.32 million as of Jun 29, 2022, which makes it owner of about 0.43% of company’s outstanding stock.

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