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

Verona Pharma plc (NASDAQ:VRNA) shares were up 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 traded hands during mid-day trading, a decline of 8% from the average daily volume of 1,486,341 shares. The stock had previously closed at $64.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VRNA shares. Roth Mkm started coverage on Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 target price on the stock. Wells Fargo & Company lifted their target price on Verona Pharma from $64.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Roth Capital upgraded Verona Pharma to a “strong-buy” rating in a research report on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $60.00 price objective (up from $42.00) on shares of Verona Pharma in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group boosted their price objective on Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Verona Pharma currently has an average rating of “Buy” and an average price target of $57.14.

Verona Pharma Stock Up 5.9 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company has a market capitalization of $5.56 billion, a PE ratio of -35.40 and a beta of 0.41. The business has a 50-day moving average of $52.64 and a 200 day moving average of $39.58.

Insider Buying and Selling

In other Verona Pharma news, CEO David Zaccardelli sold 162,800 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $5.01, for a total transaction of $815,628.00. Following the sale, the chief executive officer now directly owns 14,204,752 shares of the company’s stock, valued at $71,165,807.52. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Hahn sold 183,728 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $5.01, for a total value of $920,477.28. Following the sale, the chief financial officer now directly owns 13,293,736 shares in the company, valued at $66,601,617.36. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 952,488 shares of company stock worth $4,743,881. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Several large investors have recently added to or reduced their stakes in the stock. Vermillion Wealth Management Inc. bought a new stake in Verona Pharma during the fourth quarter worth approximately $46,000. GF Fund Management CO. LTD. bought a new stake in Verona Pharma during the fourth quarter worth approximately $72,000. Castleark Management LLC bought a new stake in Verona Pharma during the fourth quarter worth approximately $8,631,000. Woodline Partners LP increased its stake in Verona Pharma by 1.7% during the fourth quarter. Woodline Partners LP now owns 516,605 shares of the company’s stock worth $23,991,000 after acquiring an additional 8,660 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new stake in Verona Pharma during the fourth quarter worth approximately $2,322,000. 85.88% of the stock is owned by institutional investors.

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.