Verona Pharma plc (NASDAQ:VRNA) CFO Mark W. Hahn Sells 162,704 Shares

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) CFO Mark W. Hahn sold 162,704 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $9.30, for a total value of $1,513,147.20. Following the completion of the transaction, the chief financial officer now directly owns 12,883,856 shares in the company, valued at approximately $119,819,860.80. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Verona Pharma Trading Up 4.3%

Shares of NASDAQ:VRNA traded up $3.34 during midday trading on Friday, hitting $80.83. The company had a trading volume of 2,949,818 shares, compared to its average volume of 1,313,416. The firm has a fifty day simple moving average of $65.59 and a 200 day simple moving average of $57.00. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of -42.10 and a beta of 0.20. Verona Pharma plc has a 12 month low of $11.75 and a 12 month high of $81.73.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. On average, analysts predict that Verona Pharma plc will post -1.95 EPS for the current year.

Institutional Trading of Verona Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Verona Pharma during the fourth quarter worth approximately $720,000. Values First Advisors Inc. lifted its stake in Verona Pharma by 36.9% during the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company's stock worth $1,092,000 after purchasing an additional 6,331 shares during the last quarter. Choreo LLC bought a new position in shares of Verona Pharma in the 4th quarter valued at $230,000. Legato Capital Management LLC lifted its stake in shares of Verona Pharma by 132.9% in the 4th quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock valued at $1,154,000 after acquiring an additional 14,183 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Verona Pharma by 27.2% in the fourth quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock valued at $3,117,000 after purchasing an additional 14,362 shares during the period. Institutional investors own 85.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on VRNA shares. Wells Fargo & Company increased their price objective on Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. 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 objective for the company. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. HC Wainwright lifted their target price on Verona Pharma from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Canaccord Genuity Group raised their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $81.50.

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.