Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Andrew Fisher, the General Counsel of Verona Pharma plc (NASDAQ:VRNA), recently reported selling a portion of his holdings in the company. The sale comes as VRNA trades near $72.26, approaching its 52-week high of $74.18, with the stock delivering an impressive 358.79% return over the past year. According to a filing with the Securities and Exchange Commission, Fisher sold 26,072 ordinary shares on April 29, 2025, at a price of $8.98 per share, amounting to a total transaction value of $234,126.
The sale was conducted to cover taxes related to the vesting of Restricted Share Units (RSUs). Following this transaction, Fisher holds 359,993 ordinary shares in the $6.57 billion market cap company. Additionally, other transactions involved the acquisition of 86,064 ordinary shares through the exercise of RSUs, which did not involve any cash exchange. InvestingPro analysis suggests the stock is currently fairly valued, with 16 additional ProTips available to subscribers, including insights on profitability and growth prospects.
In other recent news, Verona Pharma has reported several significant developments that are attracting attention from investors. The company recently renegotiated its financial agreements, increasing its term loan facility from $250 million to $450 million and reducing the interest rate from 11% to 9.7%, with a potential further reduction to 9.35% upon meeting certain sales milestones. This move follows the successful U.S. launch of their COPD treatment, Ohtuvayre. In another update, Verona Pharma’s shareholders approved all proposals at their Annual General Meeting, including the re-election of directors and the approval of financial statements. Analyst firms have also expressed confidence in Verona Pharma’s prospects. TD Cowen initiated coverage with a Buy rating and a $100 price target, noting the potential for robust revenue growth. Cantor Fitzgerald set a price target of $80, highlighting the promising market potential of Ohtuvayre and the company’s potential treatment for bronchiectasis. These developments underscore Verona Pharma’s strategic positioning in the respiratory disease market and its potential for future growth.
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