Verona Pharma plc (NASDAQ:VRNA) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Verona Pharma plc (NASDAQ:VRNA - Get Free Report) have been given an average rating of "Buy" by the seven brokerages that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $66.83.

VRNA has been the topic of a number of recent analyst reports. HC Wainwright lifted their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Roth Capital raised shares of Verona Pharma to a "strong-buy" rating in a research note on Friday, January 10th. Roth Mkm initiated coverage on shares of Verona Pharma in a research note on Friday, January 10th. They issued a "buy" rating and a $68.00 price objective on the stock. Truist Financial reissued a "buy" rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, February 28th.

Verona Pharma Stock Performance

VRNA stock traded down $0.06 during mid-day trading on Friday, hitting $67.44. 1,340,997 shares of the company were exchanged, compared to its average volume of 1,566,163. The business has a 50 day simple moving average of $56.36 and a 200-day simple moving average of $41.91. 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 stock has a market capitalization of $5.45 billion, a PE ratio of -35.13 and a beta of 0.39. Verona Pharma has a 1-year low of $11.39 and a 1-year high of $70.40.

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Insiders Place Their Bets

In other news, CEO David Zaccardelli sold 162,800 shares of Verona Pharma stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.01, for a total transaction of $815,628.00. Following the transaction, the chief executive officer now owns 14,204,752 shares in the company, valued at approximately $71,165,807.52. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Hahn sold 183,728 shares of Verona Pharma stock in a transaction on Friday, December 6th. The stock was sold at an average price of $5.01, for a total transaction of $920,477.28. Following the transaction, the chief financial officer now owns 13,293,736 shares in the company, valued at approximately $66,601,617.36. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after buying an additional 276 shares during the period. Diversify Advisory Services LLC lifted its holdings in Verona Pharma by 5.2% in the fourth quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock valued at $279,000 after buying an additional 305 shares during the period. Townsquare Capital LLC lifted its holdings in Verona Pharma by 1.9% in the fourth 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 period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Verona Pharma by 25.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock valued at $75,000 after buying an additional 529 shares during the period. Finally, Geode Capital Management LLC lifted 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 valued at $2,914,000 after buying an additional 660 shares during the period. Institutional investors and hedge funds 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.