Verona Pharma (NASDAQ:VRNA) Sets New 52-Week High - Should You Buy?

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $57.49 and last traded at $57.16, with a volume of 188352 shares changing hands. The stock had previously closed at $54.83.

Wall Street Analysts Forecast Growth

VRNA has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on Verona Pharma from $64.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Roth Capital raised Verona Pharma to a "strong-buy" rating in a research report on Friday, January 10th. Roth Mkm started coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a "buy" rating and a $68.00 price objective on the stock. Truist Financial reiterated a "buy" rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Finally, Canaccord Genuity Group raised their price objective on Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $53.14.

Verona Pharma Price Performance

The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of -30.72 and a beta of 0.40. The company's 50 day moving average is $45.92 and its 200-day moving average is $35.47.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). The firm had revenue of $5.62 million during the quarter, compared to the consensus estimate of $2.31 million. During the same period last year, the firm posted ($0.18) earnings per share. Equities research 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 related news, insider Kathleen A. Rickard sold 240,000 shares of Verona Pharma stock in a transaction that occurred 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 transaction, the insider now directly owns 2,671,480 shares of the company's stock, valued at $13,090,252. This trade represents a 8.24 % 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, Director David R. Ebsworth bought 39,360 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was bought at an average cost of $4.80 per share, with a total value of $188,928.00. Following the acquisition, the director now directly owns 920,003 shares of the company's stock, valued at approximately $4,416,014.40. The trade was a 4.47 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 954,888 shares of company stock valued at $4,755,881 in the last quarter. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Verona Pharma

A number of institutional investors have recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC acquired a new stake in Verona Pharma in the 4th quarter valued at $225,000. Jacobson & Schmitt Advisors LLC purchased a new stake in Verona Pharma during the fourth quarter worth about $2,032,000. New York State Common Retirement Fund bought a new stake in shares of Verona Pharma in the 4th quarter worth approximately $285,000. Values First Advisors Inc. lifted its position in shares of Verona Pharma by 36.9% during the 4th quarter. Values First Advisors Inc. now owns 23,505 shares of the company's stock valued at $1,092,000 after buying an additional 6,331 shares during the last quarter. Finally, Legato Capital Management LLC boosted its position in Verona Pharma by 132.9% during the fourth quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock worth $1,154,000 after purchasing an additional 14,183 shares during the period. 85.88% of the stock is owned by institutional investors.

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.