Verona Pharma plc (NASDAQ:VRNA) Insider Sells $1,014,158.88 in Stock

Verona Pharma plc (NASDAQ:VRNA) insider Kathleen A. Rickard sold 114,984 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $8.82, for a total value of $1,014,158.88. Following the completion of the transaction, the insider now directly owns 2,546,472 shares in the company, valued at $22,459,883.04. This trade represents a 4.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Verona Pharma Stock Down 4.2 %

Shares of NASDAQ VRNA opened at $66.26 on Friday. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $74.18. The stock’s fifty day simple moving average is $63.33 and its two-hundred day simple moving average is $52.86. The stock has a market capitalization of $5.37 billion, a PE ratio of -34.51 and a beta of 0.20. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data 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 company had revenue of $98.65 million for the quarter, compared to analysts’ expectations of $41.47 million. As a group, analysts expect that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Institutional Trading of Verona Pharma

A number of institutional investors have recently modified their holdings of VRNA. Renaissance Technologies LLC purchased a new stake in Verona Pharma during the fourth quarter valued at approximately $720,000. Shilanski & Associates Inc. acquired a new stake in shares of Verona Pharma in the 4th quarter worth $305,000. Values First Advisors Inc. grew its stake in Verona Pharma by 36.9% during the 4th quarter. Values First Advisors Inc. now owns 23,505 shares of the company’s stock worth $1,092,000 after buying an additional 6,331 shares during the last quarter. Choreo LLC acquired a new position in Verona Pharma during the 4th quarter valued at about $230,000. Finally, Legato Capital Management LLC raised its stake in Verona Pharma by 132.9% in the fourth quarter. Legato Capital Management LLC now owns 24,853 shares of the company’s stock valued at $1,154,000 after buying an additional 14,183 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VRNA. TD Cowen started coverage on shares of Verona Pharma in a research note on Monday, April 28th. They issued a “buy” rating and a $100.00 price target on the stock. Wells Fargo & Company raised their target price on shares of Verona Pharma from $93.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Roth Mkm started coverage on shares of Verona Pharma in a research note on Friday, January 10th. They set a “buy” rating and a $68.00 price target for the company. Cowen initiated coverage on Verona Pharma in a research note on Monday, April 28th. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group lifted their target price 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.