Verona Pharma (NASDAQ:VRNA) Hits New 1-Year High – Time to Buy?

Verona Pharma plc (NASDAQ:VRNA) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $65.50 and last traded at $64.19, with a volume of 3280 shares trading hands. The stock had previously closed at $64.21.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VRNA shares. Roth Mkm began coverage on Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 target price on the stock. HC Wainwright reaffirmed 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 Capital raised shares of Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Verona Pharma from $64.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Finally, Canaccord Genuity Group lifted their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $57.14.

Verona Pharma Trading Up 0.1 %

The firm’s fifty day moving average price is $50.63 and its 200-day moving average price is $38.47. The company has a market cap of $5.14 billion, a price-to-earnings ratio of -33.46 and a beta of 0.41. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

Insider Activity at Verona Pharma

In other Verona Pharma news, CEO David Zaccardelli sold 23,240 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $5.00, for a total transaction of $116,200.00. Following the completion of the transaction, the chief executive officer now owns 15,177,512 shares in the company, valued at approximately $75,887,560. The trade was a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Hahn sold 12,936 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total value of $64,680.00. Following the transaction, the chief financial officer now directly owns 14,276,000 shares in the company, valued at $71,380,000. This trade represents a 0.09 % decrease in their ownership of the stock. 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.

Institutional Investors Weigh In On Verona Pharma

Several institutional investors have recently bought and sold shares of the stock. Shilanski & Associates Inc. bought a new stake in shares of Verona Pharma during the 4th quarter worth about $305,000. First Turn Management LLC acquired a new position in shares of Verona Pharma during the third quarter valued at approximately $16,483,000. GSA Capital Partners LLP bought a new stake in Verona Pharma during the third quarter worth approximately $849,000. Wellington Management Group LLP lifted its position in Verona Pharma by 19.6% in the third quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock worth $54,048,000 after purchasing an additional 307,272 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in Verona Pharma during the 3rd quarter valued at $465,000. Institutional investors and hedge funds 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.