Verona Pharma plc (NASDAQ:VRNA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $61.43 and last traded at $60.90, with a volume of 592499 shares changing hands. The stock had previously closed at $59.94.
Wall Street Analyst Weigh In
A number of research analysts have commented on VRNA shares. Roth Mkm began coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price target (up previously from $42.00) on shares of Verona Pharma in a research note on Tuesday, January 21st. Truist Financial reiterated 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. Roth Capital upgraded shares of Verona Pharma to a "strong-buy" rating in a report on Friday, January 10th. Finally, Wells Fargo & Company lifted 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Verona Pharma presently has an average rating of "Buy" and an average target price of $53.14.
Get Our Latest Analysis on Verona Pharma
Verona Pharma Stock Performance
The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The business's 50-day moving average is $47.98 and its 200-day moving average is $36.70. The company has a market capitalization of $4.82 billion, a PE ratio of -31.39 and a beta of 0.41.
Insider Activity
In other news, CFO Mark W. Hahn sold 98,704 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $5.01, for a total transaction of $494,507.04. Following the completion of the transaction, the chief financial officer now directly owns 14,177,296 shares in the company, valued at $71,028,252.96. This trade represents a 0.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Zaccardelli sold 23,240 shares of the company's stock in a transaction dated 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 954,888 shares of company stock worth $4,755,881. Insiders own 4.80% of the company's stock.
Hedge Funds Weigh In On Verona Pharma
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock worth $75,000 after purchasing an additional 276 shares during the last quarter. Diversify Advisory Services LLC raised its position in Verona Pharma by 5.2% in the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock worth $279,000 after buying an additional 305 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $75,000 after buying an additional 529 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Verona Pharma by 8.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company's stock valued at $1,061,000 after acquiring an additional 1,807 shares during the period. Finally, EMC Capital Management boosted its holdings 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 valued at $163,000 after acquiring an additional 3,400 shares during the last quarter. 85.88% of the stock is owned by institutional investors.
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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