Verona Pharma (NASDAQ:VRNA) Shares Gap Up – Should You Buy?

Verona Pharma plc (NASDAQ:VRNA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $63.52, but opened at $67.00. Verona Pharma shares last traded at $67.43, with a volume of 412,315 shares.

Analyst Ratings Changes

VRNA has been the subject of a number of analyst reports. Roth Capital upgraded shares of Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Canaccord Genuity Group boosted their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. HC Wainwright boosted their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Roth Mkm initiated coverage on shares of Verona Pharma in a research note on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Verona Pharma currently has an average rating of “Buy” and a consensus price target of $62.00.

Verona Pharma Price Performance

The stock’s 50-day moving average is $55.05 and its 200-day moving average is $40.98. The firm has a market cap of $5.60 billion, a P/E ratio of -36.27 and a beta of 0.41. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling

In other Verona Pharma news, CEO David Zaccardelli sold 67,608 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $5.00, for a total value of $338,040.00. Following the sale, the chief executive officer now owns 15,007,816 shares of the company’s stock, valued at $75,039,080. The trade was a 0.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Hahn sold 183,728 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $5.01, for a total transaction of $920,477.28. Following the completion of the sale, the chief financial officer now directly owns 13,293,736 shares in the company, valued at $66,601,617.36. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,120 shares of company stock valued at $2,389,065. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verona Pharma

Several institutional investors and hedge funds have recently bought and sold shares of VRNA. Vermillion Wealth Management Inc. bought a new stake in shares of Verona Pharma in the 4th quarter worth about $46,000. GF Fund Management CO. LTD. bought a new position in Verona Pharma during the 4th quarter valued at about $72,000. GAMMA Investing LLC lifted its holdings in Verona Pharma by 20.7% during the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock valued at $75,000 after purchasing an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after purchasing an additional 529 shares during the last quarter. Finally, EMC Capital Management lifted its holdings in Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company’s stock valued at $163,000 after purchasing an additional 3,400 shares during the last quarter. 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.