Mark W. Hahn Sells 204,864 Shares of Verona Pharma plc (NASDAQ:VRNA) Stock

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) CFO Mark W. Hahn sold 204,864 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $9.33, for a total value of $1,911,381.12. Following the sale, the chief financial officer now directly owns 12,678,992 shares of the company's stock, valued at $118,294,995.36. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Verona Pharma Stock Up 4.3%

Shares of VRNA stock traded up $3.34 during midday trading on Friday, reaching $80.83. 2,949,818 shares of the stock were exchanged, compared to its average volume of 1,313,416. 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 firm has a market cap of $6.55 billion, a PE ratio of -42.10 and a beta of 0.20. The company's 50 day moving average is $65.59 and its two-hundred day moving average is $57.00. Verona Pharma plc has a 1 year low of $11.75 and a 1 year high of $81.73.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced 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. On average, equities research analysts predict that Verona Pharma plc will post -1.95 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VRNA. Roth Capital set a $83.00 target price on Verona Pharma in a research report on Friday, February 28th. Cowen began coverage on Verona Pharma in a research report on Monday, April 28th. They issued a "buy" rating for the company. Wells Fargo & Company raised their target price on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald began coverage on Verona Pharma in a research report on Monday, April 21st. They issued an "overweight" rating and a $80.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $81.50.

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.