Shares of Verona Pharma plc (NASDAQ:VRNA - Get Free Report) hit a new 52-week high on Wednesday after Canaccord Genuity Group raised their price target on the stock from $44.00 to $72.00. Canaccord Genuity Group currently has a buy rating on the stock. Verona Pharma traded as high as $62.00 and last traded at $62.25, with a volume of 250377 shares trading hands. The stock had previously closed at $59.33.
VRNA has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $60.00 target price (up previously from $42.00) on shares of Verona Pharma in a report on Tuesday, January 21st. Truist Financial reissued a "buy" rating and set a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Roth Mkm initiated coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 target price on the stock. Finally, Roth Capital raised Verona Pharma to a "strong-buy" rating in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $57.14.
View Our Latest Stock Report on Verona Pharma
Insider Buying and Selling
In other Verona Pharma news, CEO David Zaccardelli sold 23,240 shares of the firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $5.00, for a total value of $116,200.00. Following the sale, the chief executive officer now directly owns 15,177,512 shares in the company, valued at $75,887,560. This trade represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $4.90, for a total value of $1,176,000.00. Following the transaction, the insider now owns 2,671,480 shares of the company's stock, valued at $13,090,252. This represents a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 952,488 shares of company stock valued at $4,743,881 over the last 90 days. 4.80% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of VRNA. GAMMA Investing LLC raised its stake in Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after acquiring an additional 276 shares during the period. Diversify Advisory Services LLC grew its holdings in Verona Pharma by 5.2% during the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock worth $279,000 after acquiring an additional 305 shares during the last quarter. Townsquare Capital LLC grew its position in shares of Verona Pharma by 1.9% in the 4th quarter. Townsquare Capital LLC now owns 17,958 shares of the company's stock valued at $834,000 after buying an additional 332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $75,000 after purchasing an additional 529 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Verona Pharma by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock worth $2,914,000 after purchasing an additional 660 shares in the last quarter. Institutional investors own 85.88% of the company's stock.
Verona Pharma Stock Performance
The company's 50 day moving average is $50.15 and its 200-day moving average is $38.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.
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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