Bullish indicating open at $55-$60, IPO prices at $37
Director Kenneth Cunningham of Verona Pharma PLC (NASDAQ:VRNA) sold 10,808 ordinary shares of the company on August 1, 2025, at a price of $13.1437, in one transaction, for a total value of $142,057. The sale comes as VRNA trades near its 52-week high of $105.50, having delivered impressive returns of 127% year-to-date and 403% over the past year, with the company now commanding a market capitalization of $9 billion.
On the same day, Cunningham also acquired 24,000 shares through the exercise of Restricted Stock Units. According to InvestingPro, VRNA maintains strong financial health with a current ratio of 8.86 and impressive gross profit margins of 95%. Get access to 15+ additional exclusive ProTips and comprehensive analysis with InvestingPro.
In other recent news, Merck (NSE:PROR) announced its plan to acquire Verona Pharma for $107 per American Depository Share in a deal valued at approximately $10 billion. This acquisition, expected to close in the fourth quarter of 2025, represents a 23% premium over Verona Pharma’s previous closing price. Following the announcement, several analyst firms have adjusted their ratings for Verona Pharma. Roth/MKM downgraded Verona Pharma from Buy to Neutral, citing the significant resources required to scale Ohtuvayre’s sales. BTIG also downgraded Verona Pharma from Buy to Neutral, while TD Cowen downgraded it from Buy to Hold, raising the price target to $107.00. Meanwhile, Morgan Stanley (NYSE:MS) reiterated an Equalweight rating on Merck with a $99.00 price target after the acquisition announcement. These developments indicate a strategic move by Merck to expand its portfolio with Verona Pharma’s assets.
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