Wells Fargo & Company Issues Positive Forecast for Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Stock Price

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) had its price target boosted by Wells Fargo & Company from $107.00 to $138.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

VRNA has been the subject of several other research reports. Cowen initiated coverage on shares of Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They issued a “buy” rating for the company. Jefferies Financial Group raised their target price on shares of Verona Pharma PLC American Depositary Share from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. HC Wainwright lifted their price target on shares of Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Cantor Fitzgerald boosted their price target on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, June 11th. Finally, TD Cowen assumed coverage on Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They set a “buy” rating and a $100.00 price objective on the stock. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma PLC American Depositary Share presently has an average rating of “Buy” and a consensus price target of $94.56.

Verona Pharma PLC American Depositary Share Stock Performance

NASDAQ:VRNA opened at $94.32 on Friday. The stock has a 50 day simple moving average of $74.68 and a 200 day simple moving average of $62.09. The stock has a market cap of $8.03 billion, a P/E ratio of -47.16 and a beta of 0.21. Verona Pharma PLC American Depositary Share has a 1-year low of $14.14 and a 1-year high of $94.45. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. Research analysts anticipate that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current year.

Insider Buying and Selling

In other Verona Pharma PLC American Depositary Share news, General Counsel Andrew Fisher sold 26,072 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $234,126.56. Following the completion of the transaction, the general counsel now owns 359,993 shares of the company’s stock, valued at approximately $3,232,737.14. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vikas Sinha sold 20,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.92, for a total transaction of $178,400.00. Following the completion of the transaction, the director now directly owns 74,440 shares of the company’s stock, valued at $664,004.80. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,965,800 shares of company stock worth $20,056,881. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Verona Pharma PLC American Depositary Share in the 1st quarter valued at approximately $48,000. Geneos Wealth Management Inc. increased its holdings in shares of Verona Pharma PLC American Depositary Share by 44.2% during the first quarter. Geneos Wealth Management Inc. now owns 630 shares of the company’s stock worth $40,000 after buying an additional 193 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Verona Pharma PLC American Depositary Share by 274.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,041,408 shares of the company’s stock worth $66,119,000 after buying an additional 763,353 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at $2,012,000. Finally, Scientech Research LLC bought a new position in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at $809,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma PLC American Depositary Share 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.