Verona Pharma (NASDAQ:VRNA) Hits New 12-Month High After Analyst Upgrade

Verona Pharma plc (NASDAQ:VRNA - Get Free Report)'s stock price hit a new 52-week high during trading on Monday after HC Wainwright raised their price target on the stock from $85.00 to $90.00. HC Wainwright currently has a buy rating on the stock. Verona Pharma traded as high as $83.41 and last traded at $82.46, with a volume of 156569 shares traded. The stock had previously closed at $81.20.

Several other equities analysts have also recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Verona Pharma in a research note on Monday, April 21st. They set an "overweight" rating and a $80.00 price target for the company. TD Cowen assumed coverage on shares of Verona Pharma in a research note on Monday, April 28th. They set a "buy" rating and a $100.00 price target for the company. Canaccord Genuity Group raised their price target 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. Wells Fargo & Company raised their price target on shares of Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Cowen began coverage on shares of Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $82.13.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, General Counsel Andrew Fisher sold 26,072 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $234,126.56. Following the completion of the sale, the general counsel now owns 359,993 shares of the company's stock, valued at $3,232,737.14. This trade represents a 6.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathleen A. Rickard sold 79,264 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total value of $661,854.40. Following the sale, the insider now directly owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,165,064 shares of company stock valued at $10,676,335 in the last quarter. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verona Pharma

A number of large investors have recently made changes to their positions in VRNA. NBC Securities Inc. acquired a new stake in shares of Verona Pharma during the first quarter worth $34,000. Geneos Wealth Management Inc. lifted its holdings in shares of Verona Pharma by 44.2% during the first quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock worth $40,000 after buying an additional 193 shares in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Verona Pharma during the fourth quarter worth $46,000. Acadian Asset Management LLC acquired a new stake in shares of Verona Pharma during the first quarter worth $48,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Verona Pharma during the first quarter worth $58,000. Institutional investors own 85.88% of the company's stock.

Verona Pharma Stock Up 0.8%

The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -44.17 and a beta of 0.20. The stock has a fifty day moving average price of $65.98 and a two-hundred day moving average price of $57.49.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analyst estimates of $41.47 million. As a group, sell-side analysts expect that Verona Pharma plc will post -1.95 EPS for the current year.

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.