Verona Pharma (NASDAQ:VRNA) Reaches New 52-Week High – Should You Buy?

Shares of Verona Pharma plc (NASDAQ:VRNA) reached a new 52-week high on Monday . The stock traded as high as $39.41 and last traded at $38.97, with a volume of 157815 shares. The stock had previously closed at $38.58.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial increased their price target on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price target on Verona Pharma from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group increased their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright increased their price objective on Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $43.83.

Verona Pharma Stock Performance

The business has a fifty day moving average of $31.99 and a 200-day moving average of $23.14. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The company had revenue of $5.62 million during the quarter, compared to analyst estimates of $2.31 million. During the same quarter last year, the business earned ($0.18) earnings per share. As a group, research analysts expect that Verona Pharma plc will post -2.11 EPS for the current year.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, CFO Mark W. Hahn sold 249,728 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total value of $1,093,808.64. Following the sale, the chief financial officer now owns 14,089,960 shares of the company’s stock, valued at $61,714,024.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director David R. Ebsworth acquired 39,360 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were bought at an average cost of $4.80 per share, with a total value of $188,928.00. Following the acquisition, the director now owns 920,003 shares in the company, valued at approximately $4,416,014.40. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Hahn sold 249,728 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $4.38, for a total value of $1,093,808.64. Following the transaction, the chief financial officer now directly owns 14,089,960 shares in the company, valued at approximately $61,714,024.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,139,544 shares of company stock valued at $4,992,952 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Verona Pharma

A number of large investors have recently modified their holdings of VRNA. Maverick Capital Ltd. raised its holdings in shares of Verona Pharma by 74.2% during the 2nd quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company’s stock valued at $44,722,000 after buying an additional 1,316,998 shares in the last quarter. Candriam S.C.A. bought a new position in Verona Pharma during the 2nd quarter worth approximately $11,177,000. Jennison Associates LLC grew its position in Verona Pharma by 54.3% during the 3rd quarter. Jennison Associates LLC now owns 1,740,886 shares of the company’s stock worth $50,085,000 after acquiring an additional 612,854 shares during the last quarter. First Turn Management LLC bought a new position in Verona Pharma during the 3rd quarter worth approximately $16,483,000. Finally, NEA Management Company LLC grew its position in Verona Pharma by 9.3% during the 2nd quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock worth $80,756,000 after acquiring an additional 476,190 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.