Verona Pharma director Vikas Sinha sells $178,416 in stock

Vikas Sinha, a director at Verona Pharma (NASDAQ:VRNA), executed several stock transactions on April 29, 2025, according to a recent SEC filing. The transactions come as VRNA trades near its 52-week high of $74.18, with the stock showing remarkable growth of over 350% in the past year. Sinha sold a total of 20,000 ordinary shares at a price of $8.9208 per share, resulting in proceeds of approximately $178,416.

In addition to the sales, Sinha exercised options to acquire 20,000 ordinary shares at prices between $0.5038 and $1.7 per share, amounting to a total acquisition value of $28,076. These transactions were carried out as part of a pre-established trading plan under Rule 10b5-1. According to InvestingPro, Verona Pharma, now valued at $6.57 billion, appears slightly overvalued based on its Fair Value analysis. For deeper insights, InvestingPro offers 16 additional tips and comprehensive valuation metrics for VRNA.

Following these transactions, Sinha holds 74,440 ordinary shares, which are represented by 9,305 American Depositary Shares (ADSs), with each ADS corresponding to eight ordinary shares of Verona Pharma. The stock currently trades at a significant premium with a Price/Book ratio of 29x.

In other recent news, Verona Pharma has reported several significant developments. The company has renegotiated its financial agreements, increasing its term loan facility from $250 million to $450 million and lowering the interest rate from 11% to 9.7%, with a potential further reduction to 9.35%. This move comes after the successful U.S. launch of its COPD treatment, Ohtuvayre, and reflects Verona Pharma’s strengthened financial position. In terms of earnings, analysts from TD Cowen and Cantor Fitzgerald anticipate that Verona Pharma will exceed first-quarter revenue expectations, with projections ranging from $55 million to $56 million, above the consensus estimate of $48 million to $53 million.

Analyst Tara Bancroft from TD Cowen initiated coverage with a Buy rating and a $100 price target, while Cantor Fitzgerald set an Overweight rating with an $80 price target. Both firms highlight the promising market potential of Ohtuvayre and Verona Pharma’s strategic positioning. Additionally, Verona Pharma’s shareholders recently approved all resolutions at the Annual General Meeting, including the re-election of directors and the adoption of financial statements for 2024. This approval underscores shareholder confidence in the company’s management and strategic direction.

Furthermore, Verona Pharma’s board now includes James Brady, following his appointment to replace a departing director. Brady brings extensive experience from his roles at AstraZeneca (NASDAQ:AZN) and MedImmune. The combination of these strategic financial moves, positive analyst outlooks, and strong shareholder support positions Verona Pharma favorably in the market.

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