Verona Pharma (NASDAQ:VRNA) Hits New 52-Week High – Still a Buy?

Verona Pharma plc (NASDAQ:VRNA) reached a new 52-week high on Tuesday . The company traded as high as $65.50 and last traded at $64.19, with a volume of 3280 shares. The stock had previously closed at $64.21.

Analyst Ratings Changes

VRNA has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Roth Mkm began coverage on shares of Verona Pharma in a research note on Friday, January 10th. They set a “buy” rating and a $68.00 price objective on the stock. Canaccord Genuity Group lifted their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Roth Capital raised Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a buy rating and one has given 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 an average price target of $57.14.

Verona Pharma Trading Up 0.1 %

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 firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of -33.46 and a beta of 0.41. The business has a fifty day moving average price of $50.63 and a 200 day moving average price of $38.47.

Insider Activity

In related news, insider Kathleen A. Rickard sold 240,000 shares of Verona Pharma stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.90, for a total transaction of $1,176,000.00. Following the transaction, the insider now owns 2,671,480 shares in the company, valued at approximately $13,090,252. The trade was a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Hahn sold 12,936 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $5.00, for a total transaction of $64,680.00. Following the sale, the chief financial officer now directly owns 14,276,000 shares of the company’s stock, valued at approximately $71,380,000. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 952,488 shares of company stock valued at $4,743,881 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its position 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 acquiring an additional 276 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in shares of 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 purchasing an additional 305 shares during the period. Townsquare Capital LLC grew its holdings in Verona Pharma by 1.9% during the 4th quarter. Townsquare Capital LLC now owns 17,958 shares of the company’s stock valued at $834,000 after purchasing an additional 332 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 buying an additional 529 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Verona Pharma by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company’s stock worth $2,914,000 after buying an additional 660 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

About Verona Pharma

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.