Verona Pharma plc (NASDAQ:VRNA - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $51.80 and last traded at $49.55, with a volume of 4240575 shares traded. The stock had previously closed at $44.81.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on VRNA shares. Wells Fargo & Company upped their target price on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday. HC Wainwright upped their price objective on Verona Pharma from $36.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Truist Financial reissued a "buy" rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday. Finally, Canaccord Genuity Group upped their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Verona Pharma presently has an average rating of "Buy" and an average target price of $47.67.
Read Our Latest Report on Verona Pharma
Verona Pharma Stock Down 6.8 %
The firm has a fifty day moving average of $40.88 and a 200-day moving average of $31.21. 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 firm has a market cap of $3.72 billion, a P/E ratio of -24.06 and a beta of 0.40.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The business had revenue of $5.62 million during the quarter, compared to analysts' expectations of $2.31 million. During the same quarter last year, the business earned ($0.18) earnings per share. On average, equities research analysts anticipate that Verona Pharma plc will post -2.11 earnings per share for the current year.
Insiders Place Their Bets
In related news, CFO Mark W. Hahn sold 249,728 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the transaction, the chief financial officer now directly owns 14,089,960 shares of the company's stock, valued at approximately $61,714,024.80. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Zaccardelli sold 245,784 shares of the firm's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $4.38, for a total value of $1,076,533.92. Following the sale, the chief executive officer now directly owns 15,004,920 shares of the company's stock, valued at $65,721,549.60. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,094,432 shares of company stock valued at $9,748,833. 4.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Verona Pharma by 70.6% during the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock worth $38,000 after acquiring an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock valued at $75,000 after purchasing an additional 529 shares during the period. Diversify Advisory Services LLC bought a new stake in Verona Pharma in the 3rd quarter valued at $169,000. Claro Advisors LLC acquired a new position in Verona Pharma in the 3rd quarter valued at $209,000. Finally, Sanctuary Advisors LLC bought a new position in Verona Pharma during the 3rd quarter worth $219,000. Institutional investors and hedge funds own 85.88% of the company's stock.
About Verona Pharma
(
Get Free Report)
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.
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