Verona Pharma (NASDAQ:VRNA) Sets New 12-Month High – Still a Buy?

Verona Pharma plc (NASDAQ:VRNA)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $57.49 and last traded at $57.16, with a volume of 188352 shares trading hands. The stock had previously closed at $54.83.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRNA. Canaccord Genuity Group raised their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Roth Capital raised Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Truist Financial reissued a “buy” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and issued a $60.00 target price (up from $42.00) on shares of Verona Pharma in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company upped their price target on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $53.14.

Verona Pharma Stock Up 0.1 %

The business has a 50-day moving average price of $45.55 and a two-hundred day moving average price of $35.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Verona Pharma (NASDAQ:VRNA) last released its earnings results on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The business had revenue of $5.62 million for the quarter, compared to analysts’ expectations of $2.31 million. During the same period in the previous year, the company earned ($0.18) earnings per share. On average, equities research analysts predict that Verona Pharma plc will post -1.95 earnings per share for the current fiscal year.

Insider Activity at Verona Pharma

In other news, insider Kathleen A. Rickard sold 240,000 shares of the firm’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 sale, the insider now owns 2,671,480 shares of the company’s stock, valued at $13,090,252. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David R. Ebsworth acquired 39,360 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of $4.80 per share, with a total value of $188,928.00. Following the completion of the transaction, the director now directly owns 920,003 shares in the company, valued at $4,416,014.40. This trade represents a 4.47 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 1,129,816 shares of company stock worth $5,523,815 in the last ninety days. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VRNA. GAMMA Investing LLC raised 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. raised its stake in shares of 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. EMC Capital Management lifted its holdings in shares of Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company’s stock valued at $163,000 after purchasing an additional 3,400 shares in the last quarter. Choreo LLC acquired a new position in shares of Verona Pharma during the fourth quarter worth about $230,000. Finally, Diversify Advisory Services LLC bought a new position in shares of Verona Pharma during the third quarter worth about $169,000. 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.