Verona Pharma (NASDAQ:VRNA) Hits New 1-Year High - Should You Buy?

Verona Pharma plc (NASDAQ:VRNA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $65.50 and last traded at $64.19, with a volume of 3280 shares. The stock had previously closed at $64.21.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Roth Mkm initiated coverage on shares of Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price target for the company. Wells Fargo & Company boosted their price target on Verona Pharma from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 8th. Truist Financial reaffirmed a "buy" rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma 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. Finally, HC Wainwright restated a "buy" rating and set a $60.00 target price (up previously from $42.00) on shares of Verona Pharma in a research note on Tuesday, January 21st. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $57.14.

Verona Pharma Stock Performance

The business has a fifty day simple moving average of $52.11 and a two-hundred day simple moving average of $39.12. 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 market cap of $5.43 billion, a P/E ratio of -35.40 and a beta of 0.41.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma 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 transaction of $1,176,000.00. Following the completion of the sale, the insider now owns 2,671,480 shares of the company's stock, valued at approximately $13,090,252. The trade was a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Hahn sold 98,704 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $5.01, for a total value of $494,507.04. Following the completion of the sale, the chief financial officer now owns 14,177,296 shares of the company's stock, valued at approximately $71,028,252.96. The trade was a 0.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 952,488 shares of company stock valued at $4,743,881. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma

Several large investors have recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Verona Pharma in the fourth quarter worth $46,000. GF Fund Management CO. LTD. bought a new position in Verona Pharma in the 4th quarter worth $72,000. Castleark Management LLC purchased a new stake in Verona Pharma in the 4th quarter worth $8,631,000. Woodline Partners LP raised its holdings in Verona Pharma by 1.7% during the fourth quarter. Woodline Partners LP now owns 516,605 shares of the company's stock valued at $23,991,000 after acquiring an additional 8,660 shares during the period. Finally, Velan Capital Investment Management LP purchased a new position in shares of Verona Pharma in the fourth quarter valued at about $2,322,000. 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.