Verona Pharma Target of Unusually High Options Trading (NASDAQ:VRNA)

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) saw some unusual options trading activity on Monday. Traders bought 12,870 put options on the company. This is an increase of 241% compared to the typical daily volume of 3,774 put options.

Verona Pharma Stock Down 0.8%

NASDAQ VRNA traded down $0.72 during trading hours on Tuesday, reaching $91.98. 385,172 shares of the company's stock traded hands, compared to its average volume of 1,318,944. The firm has a market cap of $7.46 billion, a PE ratio of -47.93 and a beta of 0.21. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. Verona Pharma has a 52-week low of $14.14 and a 52-week high of $94.52. The firm has a 50-day simple moving average of $71.85 and a 200 day simple moving average of $60.92.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. Sell-side analysts anticipate that Verona Pharma will post -1.95 EPS for the current fiscal year.

Insider Activity

In other Verona Pharma news, CEO David Zaccardelli sold 208,696 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $9.33, for a total transaction of $1,947,133.68. Following the completion of the sale, the chief executive officer now directly owns 13,590,168 shares of the company's stock, valued at approximately $126,796,267.44. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Hahn sold 400,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total value of $4,560,000.00. Following the completion of the sale, the chief financial officer now directly owns 12,278,992 shares of the company's stock, valued at $139,980,508.80. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,885,800 shares of company stock valued at $19,134,481. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Verona Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of VRNA. NBC Securities Inc. bought a new stake in shares of Verona Pharma during the 1st quarter worth approximately $34,000. Geneos Wealth Management Inc. lifted its position in shares of Verona Pharma by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock worth $40,000 after purchasing an additional 193 shares during the period. Acadian Asset Management LLC purchased a new position in Verona Pharma during the first quarter valued at approximately $48,000. NewEdge Advisors LLC bought a new stake in Verona Pharma during the 1st quarter valued at $58,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Verona Pharma in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Verona Pharma from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Roth Capital set a $83.00 target price on shares of Verona Pharma in a research note on Friday, February 28th. TD Cowen assumed coverage on shares of Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating and a $100.00 target price on the stock. Cowen assumed coverage on shares of Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating on the stock. Finally, Jefferies Financial Group increased their target price on Verona Pharma from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $87.44.

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.