Investors Buy Large Volume of Call Options on Verona Pharma (NASDAQ:VRNA)

Verona Pharma plc (NASDAQ:VRNA) was the recipient of some unusual options trading on Thursday. Stock traders bought 5,068 call options on the company. This represents an increase of approximately 739% compared to the typical daily volume of 604 call options.

Verona Pharma Price Performance

Verona Pharma stock opened at $15.44 on Friday. Verona Pharma has a one year low of $11.39 and a one year high of $23.07. The business has a fifty day moving average price of $14.10 and a 200-day moving average price of $16.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 18.40 and a quick ratio of 18.40. The firm has a market capitalization of $1.25 billion, a P/E ratio of -20.05 and a beta of 0.34.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08). As a group, equities research analysts forecast that Verona Pharma will post -1.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VRNA shares. Canaccord Genuity Group restated a “buy” rating and set a $35.00 target price on shares of Verona Pharma in a research report on Thursday. Piper Sandler increased their price target on Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. HC Wainwright increased their price target on Verona Pharma from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $33.00 target price on shares of Verona Pharma in a research report on Friday, March 1st. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $35.00.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 36,248 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1.96, for a total value of $71,046.08. Following the sale, the insider now owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Verona Pharma by 3.8% in the third quarter. Wellington Management Group LLP now owns 4,467,571 shares of the company’s stock worth $72,821,000 after buying an additional 164,268 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Verona Pharma by 12.7% in the first quarter. Janus Henderson Group PLC now owns 2,031,994 shares of the company’s stock worth $32,657,000 after purchasing an additional 228,633 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Verona Pharma by 0.5% in the first 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 during the last quarter. Eventide Asset Management LLC grew its stake in shares of Verona Pharma by 62.1% in the fourth quarter. Eventide Asset Management LLC now owns 1,377,781 shares of the company’s stock worth $27,390,000 after acquiring an additional 527,781 shares during the last quarter. Finally, First Turn Management LLC purchased a new stake in shares of Verona Pharma in the fourth quarter worth $23,981,000. Institutional investors own 85.88% of the company’s stock.

Verona Pharma Company Profile

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.