Verona Pharma (NASDAQ:VRNA) Reaches New 12-Month High – What’s Next?

Verona Pharma plc (NASDAQ:VRNA)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $61.43 and last traded at $60.90, with a volume of 592499 shares traded. The stock had previously closed at $59.94.

Wall Street Analyst Weigh In

Several research firms have issued reports on VRNA. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $42.00) on shares of Verona Pharma in a report on Tuesday, January 21st. Canaccord Genuity Group upped their price objective on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Roth Mkm began coverage on Verona Pharma in a research note on Friday, January 10th. They issued a “buy” rating and a $68.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Finally, Roth Capital raised Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $53.14.

Verona Pharma Price Performance

The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -31.39 and a beta of 0.41. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The company has a 50 day moving average of $47.57 and a 200 day moving average of $36.34.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The company had revenue of $5.62 million during the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Equities research analysts predict that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark W. Hahn sold 12,936 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $5.00, for a total transaction of $64,680.00. Following the sale, the chief financial officer now owns 14,276,000 shares of the company’s stock, valued at approximately $71,380,000. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $4.90, for a total value of $1,176,000.00. Following the transaction, the insider now owns 2,671,480 shares of the company’s stock, valued at approximately $13,090,252. This trade represents a 8.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 954,888 shares of company stock valued at $4,755,881. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verona Pharma

A number of large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Verona Pharma by 20.7% during the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after purchasing an additional 276 shares in the last quarter. Diversify Advisory Services LLC increased its holdings in Verona Pharma by 5.2% during the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company’s stock worth $279,000 after purchasing an additional 305 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after purchasing an additional 529 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Verona Pharma by 8.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company’s stock worth $1,061,000 after purchasing an additional 1,807 shares in the last quarter. Finally, EMC Capital Management increased its holdings in Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after purchasing an additional 3,400 shares in the last quarter. 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.