Verona Pharma plc (NASDAQ:VRNA) CEO David Zaccardelli Sells 400,000 Shares

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) CEO David Zaccardelli sold 400,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total value of $4,560,000.00. Following the completion of the transaction, the chief executive officer now owns 13,190,168 shares in the company, valued at approximately $150,367,915.20. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

David Zaccardelli also recently made the following trade(s):

• On Thursday, May 29th, David Zaccardelli sold 208,696 shares of Verona Pharma stock. The stock was sold at an average price of $9.33, for a total value of $1,947,133.68.
• On Wednesday, May 28th, David Zaccardelli sold 157,704 shares of Verona Pharma stock. The stock was sold at an average price of $9.30, for a total value of $1,466,647.20.
• On Tuesday, May 27th, David Zaccardelli sold 33,600 shares of Verona Pharma stock. The stock was sold at an average price of $9.53, for a total value of $320,208.00.
• On Tuesday, April 29th, David Zaccardelli sold 90,360 shares of Verona Pharma stock. The stock was sold at an average price of $8.98, for a total value of $811,432.80.

Verona Pharma Stock Performance

Shares of Verona Pharma stock traded up $0.50 during trading hours on Monday, hitting $92.70. 974,523 shares of the company's stock traded hands, compared to its average volume of 1,322,629. Verona Pharma plc has a 12-month low of $14.14 and a 12-month high of $94.77. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of -48.28 and a beta of 0.21. The company has a fifty day simple moving average of $71.85 and a 200-day simple moving average of $60.92. 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 (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. Equities research analysts anticipate that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analysts Set New Price Targets

VRNA has been the topic of a number of recent research reports. Cantor Fitzgerald increased their target price on Verona Pharma from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Wells Fargo & Company increased their price target on Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Roth Capital set a $83.00 price target on Verona Pharma in a research report on Friday, February 28th. Jefferies Financial Group increased their price target on Verona Pharma from $95.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, TD Cowen began coverage on Verona Pharma in a research report on Monday, April 28th. They issued a "buy" rating and a $100.00 price target for the company. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Verona Pharma presently has a consensus rating of "Buy" and an average price target of $87.44.

Institutional Investors Weigh In On Verona Pharma

Several large investors have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. increased its position in shares of Verona Pharma by 2.2% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,457,850 shares of the company's stock valued at $219,539,000 after purchasing an additional 73,900 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after acquiring an additional 1,146,609 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Verona Pharma by 1.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,866,280 shares of the company's stock worth $118,491,000 after acquiring an additional 32,748 shares during the period. RTW Investments LP bought a new position in shares of Verona Pharma during the 4th quarter worth $84,568,000. Finally, Janus Henderson Group PLC grew its stake in shares of Verona Pharma by 59.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock worth $77,466,000 after acquiring an additional 624,370 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.