Verona Pharma (NASDAQ:VRNA) Hits New 52-Week High – Still a Buy?

Shares of Verona Pharma plc (NASDAQ:VRNA) reached a new 52-week high on Thursday . The stock traded as high as $57.49 and last traded at $57.16, with a volume of 188352 shares. The stock had previously closed at $54.83.

Analyst Upgrades and Downgrades

VRNA has been the topic of a number of recent research reports. Canaccord Genuity Group increased their price objective on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. 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. Roth Capital raised Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Finally, Wells Fargo & Company raised their price objective on Verona Pharma from $64.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $53.14.

Verona Pharma Stock Up 4.5 %

The firm has a market cap of $4.65 billion, a P/E ratio of -29.84 and a beta of 0.40. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $45.17 and a 200-day simple moving average of $34.88.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Monday, November 4th. The company reported ($0.56) EPS 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 the consensus estimate of $2.31 million. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, equities analysts anticipate that Verona Pharma plc will post -1.95 earnings per share for the current year.

Insider Buying and Selling at Verona Pharma

In other news, CEO David Zaccardelli sold 162,800 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $5.01, for a total value of $815,628.00. Following the completion of the transaction, the chief executive officer now 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Hahn sold 12,936 shares of Verona Pharma stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total value of $64,680.00. Following the completion of the transaction, the chief financial officer now owns 14,276,000 shares of the company’s stock, valued at approximately $71,380,000. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,225,592 shares of company stock worth $5,943,314 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after acquiring an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 acquiring an additional 529 shares during the period. EMC Capital Management increased its stake in shares of Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after purchasing an additional 3,400 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Verona Pharma in the 3rd quarter worth approximately $169,000. Finally, Marshall Wace LLP purchased a new stake in shares of Verona Pharma during the 2nd quarter valued at $195,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.