Mark W. Hahn Sells 141,360 Shares of Verona Pharma plc (NASDAQ:VRNA) Stock

Verona Pharma plc (NASDAQ:VRNA) CFO Mark W. Hahn sold 141,360 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $4.38, for a total transaction of $619,156.80. Following the completion of the transaction, the chief financial officer now owns 13,672,560 shares of the company’s stock, valued at approximately $59,885,812.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Verona Pharma Stock Performance

Shares of NASDAQ VRNA opened at $33.86 on Monday. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $35.62. The firm has a market cap of $2.71 billion, a P/E ratio of -43.97 and a beta of 0.44. The stock has a fifty day moving average price of $29.96 and a two-hundred day moving average price of $21.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61.

Verona Pharma (NASDAQ:VRNA) last announced its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same quarter last year, the company earned ($0.11) earnings per share. Research analysts forecast that Verona Pharma plc will post -2.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VRNA. Wells Fargo & Company initiated coverage on Verona Pharma in a research report on Thursday, October 3rd. They set an “overweight” rating and a $50.00 price objective for the company. Truist Financial boosted their price target on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group lifted their price objective on shares of Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $39.33.

Hedge Funds Weigh In On Verona Pharma

Several large investors have recently made changes to their positions in the business. NEA Management Company LLC raised its holdings in shares of Verona Pharma by 9.3% in the 2nd quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock worth $80,756,000 after purchasing an additional 476,190 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of Verona Pharma by 10.0% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company’s stock valued at $47,925,000 after buying an additional 300,000 shares in the last quarter. Maverick Capital Ltd. increased its holdings in shares of Verona Pharma by 74.2% in the second 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. Janus Henderson Group PLC lifted its position in shares of Verona Pharma by 12.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,031,994 shares of the company’s stock valued at $32,657,000 after acquiring an additional 228,633 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Verona Pharma by 0.5% during the 1st quarter. Jennison Associates LLC now owns 1,593,833 shares of the company’s stock worth $25,645,000 after acquiring an additional 8,448 shares in 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.