Verona Pharma plc (NASDAQ:VRNA) Insider Sells $661,854.40 in Stock

Verona Pharma plc (NASDAQ:VRNA) insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the sale, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. The trade was a 2.95 % 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.

Verona Pharma Stock Performance

Shares of VRNA stock opened at $61.39 on Friday. 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 market cap of $4.96 billion, a PE ratio of -31.97 and a beta of 0.39. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $70.40. The business’s fifty day simple moving average is $58.78 and its 200-day simple moving average is $43.59.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRNA. Shilanski & Associates Inc. purchased a new stake in shares of Verona Pharma during the fourth quarter worth about $305,000. First Turn Management LLC acquired a new stake in Verona Pharma in the 3rd quarter worth approximately $16,483,000. GSA Capital Partners LLP purchased a new stake in Verona Pharma during the 3rd quarter worth approximately $849,000. Wellington Management Group LLP increased its stake in Verona Pharma by 19.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock valued at $54,048,000 after purchasing an additional 307,272 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Verona Pharma in the third quarter worth $465,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRNA. Wells Fargo & Company boosted their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a research note on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and set a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Canaccord Genuity Group boosted their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Roth Mkm initiated coverage on Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $69.14.

Verona Pharma Company Profile

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.