Verona Pharma (NASDAQ:VRNA) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Verona Pharma (NASDAQ:VRNAGet Rating) in a research note issued to investors on Tuesday morning, TipRanks reports. The brokerage currently has a $25.00 price objective on the stock.

Separately, Wedbush dropped their price target on shares of Verona Pharma from $25.00 to $18.00 and set an outperform rating on the stock in a research note on Friday, June 17th.

Shares of NASDAQ:VRNA opened at $4.42 on Tuesday. The company has a 50-day simple moving average of $4.20 and a 200-day simple moving average of $5.14. Verona Pharma has a one year low of $3.41 and a one year high of $7.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $266.83 million, a price-to-earnings ratio of -3.71 and a beta of 0.67.

In related news, insider Kathleen A. Rickard sold 112,800 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $0.59, for a total transaction of $66,552.00. Following the transaction, the insider now owns 2,606,128 shares of the company’s stock, valued at $1,537,615.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathleen A. Rickard sold 59,720 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $0.54, for a total transaction of $32,248.80. Following the transaction, the insider now directly owns 2,546,408 shares in the company, valued at approximately $1,375,060.32. The disclosure for this sale can be found here. Insiders have sold 246,688 shares of company stock worth $135,597 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Citigroup Inc. purchased a new position in Verona Pharma during the first quarter worth approximately $1,841,000. GSA Capital Partners LLP purchased a new position in Verona Pharma during the first quarter worth approximately $66,000. IPG Investment Advisors LLC purchased a new position in Verona Pharma during the fourth quarter worth approximately $80,000. D.A. Davidson & CO. raised its stake in Verona Pharma by 20.0% during the fourth quarter. D.A. Davidson & CO. now owns 48,000 shares of the company’s stock worth $323,000 after purchasing an additional 8,000 shares during the period. Finally, Lindbrook Capital LLC acquired a new stake in shares of Verona Pharma in the fourth quarter worth $67,000. 61.19% of the stock is currently owned by institutional investors.

About Verona Pharma (Get Rating)

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.

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