Verona Pharma plc (NASDAQ:VRNA) Insider Sells $1,176,000.00 in Stock

Verona Pharma plc (NASDAQ:VRNA) insider Kathleen A. Rickard sold 240,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.90, for a total value of $1,176,000.00. Following the completion of the transaction, the insider now directly owns 2,671,480 shares in the company, valued at $13,090,252. This trade represents a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Verona Pharma Price Performance

Verona Pharma stock traded up $0.16 during mid-day trading on Tuesday, reaching $39.84. 930,124 shares of the company were exchanged, compared to its average volume of 938,694. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $40.13. The business has a fifty day moving average of $33.83 and a 200 day moving average of $24.71. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The company had revenue of $5.62 million during the quarter, compared to analysts’ expectations of $2.31 million. During the same period in the prior year, the business earned ($0.18) EPS. As a group, research analysts forecast that Verona Pharma plc will post -2.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VRNA. CWM LLC acquired a new stake in Verona Pharma in the second quarter valued at approximately $29,000. EMC Capital Management purchased a new stake in shares of Verona Pharma during the 2nd quarter valued at $38,000. GAMMA Investing LLC grew its stake in Verona Pharma by 70.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after buying an additional 553 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $75,000 after buying an additional 529 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new position in Verona Pharma during the 2nd quarter valued at about $154,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on VRNA shares. Truist Financial upped their price target on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their target price on shares of Verona Pharma from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group lifted their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright increased their price objective on Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma has an average rating of “Buy” and a consensus price target of $43.83.

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.