Verona Pharma (NASDAQ:VRNA) Stock Price Up 6.3% – What’s Next?

Verona Pharma plc (NASDAQ:VRNA) shares rose 6.3% during trading on Friday . The stock traded as high as $67.73 and last traded at $68.21. Approximately 1,372,028 shares changed hands during trading, a decline of 8% from the average daily volume of 1,486,341 shares. The stock had previously closed at $64.19.

Analyst Upgrades and Downgrades

VRNA has been the topic of several research reports. Roth Capital upgraded Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target (up from $42.00) on shares of Verona Pharma in a report on Tuesday, January 21st. Roth Mkm started coverage on Verona Pharma in a report on Friday, January 10th. They issued a “buy” rating and a $68.00 price target on the stock. Canaccord Genuity Group lifted their price target on Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Truist Financial reiterated a “buy” rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $57.14.

Verona Pharma Trading Up 5.9 %

The company has a 50 day moving average of $52.11 and a two-hundred day moving average of $39.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The stock has a market capitalization of $5.43 billion, a PE ratio of -35.40 and a beta of 0.41.

Insider Buying and Selling

In other news, insider Kathleen A. Rickard sold 240,000 shares of the business’s 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 completion of the transaction, the insider now owns 2,671,480 shares of the company’s stock, valued at $13,090,252. The trade was a 8.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Zaccardelli sold 23,240 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total value of $116,200.00. Following the completion of the transaction, the chief executive officer now directly owns 15,177,512 shares of the company’s stock, valued at approximately $75,887,560. This trade represents a 0.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 952,488 shares of company stock worth $4,743,881 in the last ninety days. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Verona Pharma

Several institutional investors and hedge funds have recently modified their holdings of VRNA. Hennion & Walsh Asset Management Inc. raised its stake in Verona Pharma by 14.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 155,835 shares of the company’s stock worth $4,483,000 after purchasing an additional 20,206 shares during the period. Values First Advisors Inc. purchased a new position in Verona Pharma during the third quarter worth about $494,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Verona Pharma by 25.4% during the third 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 during the period. China Universal Asset Management Co. Ltd. raised its stake in Verona Pharma by 37.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 21,041 shares of the company’s stock worth $605,000 after purchasing an additional 5,691 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Verona Pharma during the third quarter valued at about $169,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.