Mark W. Hahn Sells 116,696 Shares of Verona Pharma plc (NASDAQ:VRNA) Stock

Verona Pharma plc (NASDAQ:VRNA) CFO Mark W. Hahn sold 116,696 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $4.38, for a total value of $511,128.48. Following the sale, the chief financial officer now owns 13,973,264 shares of the company’s stock, valued at $61,202,896.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Verona Pharma Stock Down 0.3 %

Shares of VRNA traded down $0.10 during trading on Tuesday, reaching $34.87. The company’s stock had a trading volume of 1,104,371 shares, compared to its average volume of 916,091. The company has a fifty day moving average of $29.53 and a two-hundred day moving average of $21.16. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $35.62. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -45.29 and a beta of 0.44. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72.

Verona Pharma (NASDAQ:VRNA) last announced its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same quarter in the prior year, the business earned ($0.11) earnings per share. On average, sell-side analysts predict that Verona Pharma plc will post -2.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRNA has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of Verona Pharma in a report on Tuesday, October 1st. Canaccord Genuity Group upped their price target on Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Truist Financial upped their price target on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company began coverage on Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 price target for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Verona Pharma currently has a consensus rating of “Buy” and an average target price of $39.33.

Hedge Funds Weigh In On Verona Pharma

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in shares of Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after purchasing an additional 553 shares in the last quarter. CWM LLC acquired a new position in shares of Verona Pharma in the 2nd quarter valued at approximately $29,000. EMC Capital Management acquired a new position in shares of Verona Pharma in the 2nd quarter valued at approximately $38,000. Claro Advisors LLC acquired a new stake in shares of Verona Pharma during the 3rd quarter valued at approximately $209,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Verona Pharma during the 2nd quarter valued at approximately $154,000. 85.88% of the stock is owned by institutional investors and hedge funds.

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.