Kathleen A. Rickard Sells 79,264 Shares of Verona Pharma plc (NASDAQ:VRNA) Stock

Verona Pharma plc (NASDAQ:VRNA) insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Verona Pharma Trading Down 3.3 %

NASDAQ:VRNA traded down $2.24 on Thursday, reaching $65.36. The company’s stock had a trading volume of 1,096,894 shares, compared to its average volume of 1,540,835. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $70.40. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of -34.04 and a beta of 0.39. The stock has a 50 day moving average price of $58.49 and a 200 day moving average price of $43.35.

Wall Street Analysts Forecast Growth

VRNA has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. HC Wainwright lifted their price objective on Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Roth Capital set a $83.00 price objective on Verona Pharma in a research report on Friday, February 28th. Wells Fargo & Company lifted their price objective on Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Roth Mkm began coverage on Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $69.14.

Institutional Investors Weigh In On Verona Pharma

Several institutional investors and hedge funds have recently modified their holdings of the company. Vermillion Wealth Management Inc. purchased a new stake in shares of Verona Pharma in the 4th quarter valued at $46,000. GF Fund Management CO. LTD. purchased a new stake in shares of Verona Pharma in the 4th quarter valued at $72,000. Castleark Management LLC purchased a new stake in shares of Verona Pharma in the 4th quarter valued at $8,631,000. Woodline Partners LP raised its holdings in shares of Verona Pharma by 1.7% in the 4th quarter. Woodline Partners LP now owns 516,605 shares of the company’s stock valued at $23,991,000 after buying an additional 8,660 shares during the period. Finally, Velan Capital Investment Management LP purchased a new stake in shares of Verona Pharma in the 4th quarter valued at $2,322,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.