Verona Pharma (NASDAQ:VRNA) Trading Down 2% – Should You Sell?

Verona Pharma plc (NASDAQ:VRNA)’s stock price fell 2% on Monday . The company traded as low as $63.79 and last traded at $65.48. 112,550 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,135,673 shares. The stock had previously closed at $66.81.

Wall Street Analysts Forecast Growth

VRNA has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Roth Mkm initiated 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. HC Wainwright upped their price objective on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Truist Financial reissued a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, Roth Capital set a $83.00 price target on Verona Pharma in a research report on Friday, February 28th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $69.14.

Verona Pharma Stock Down 0.9 %

The stock has a market capitalization of $5.35 billion, a P/E ratio of -34.47 and a beta of 0.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The stock has a fifty day moving average price of $61.49 and a 200 day moving average price of $45.75.

Insider Transactions at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vermillion Wealth Management Inc. bought a new stake in Verona Pharma during the fourth quarter worth about $46,000. GF Fund Management CO. LTD. bought a new stake in Verona Pharma in the 4th quarter worth approximately $72,000. GAMMA Investing LLC boosted its stake in Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after buying an additional 276 shares in the last quarter. EMC Capital Management grew its position in Verona Pharma by 3,400.0% during the fourth quarter. EMC Capital Management now owns 3,500 shares of the company’s stock valued at $163,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Wrapmanager Inc. purchased a new position in shares of Verona Pharma during the fourth quarter worth approximately $207,000. 85.88% of the stock is currently 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.