Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Receives Neutral Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) in a research note published on Monday morning, MarketBeat.com reports. They currently have a $107.00 target price on the stock, up from their prior target price of $90.00.

Several other brokerages also recently issued reports on VRNA. BTIG Research downgraded Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Cantor Fitzgerald lifted their target price 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. Piper Sandler set a $160.00 target price on Verona Pharma PLC American Depositary Share and gave the company an “overweight” rating in a research note on Monday, June 23rd. Cowen downgraded Verona Pharma PLC American Depositary Share from a “buy” rating to a “hold” rating in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $107.00 price objective (down previously from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.00.

Verona Pharma PLC American Depositary Share Stock Down 0.2%

Shares of VRNA opened at $104.67 on Monday. The business’s 50 day moving average is $84.54 and its 200 day moving average is $68.38. The company has a market capitalization of $8.91 billion, a PE ratio of -52.34 and a beta of 0.24. Verona Pharma PLC American Depositary Share has a 12-month low of $18.51 and a 12-month high of $104.99. 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 issued its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. Research analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kathleen A. Rickard sold 114,984 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $8.82, for a total transaction of $1,014,158.88. Following the transaction, the insider owned 2,546,472 shares of the company’s stock, valued at approximately $22,459,883.04. The trade was a 4.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Zaccardelli sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total value of $4,560,000.00. Following the transaction, the chief executive officer directly owned 13,190,168 shares in the company, valued at approximately $150,367,915.20. This represents a 2.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,965,800 shares of company stock worth $20,056,881. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

Large investors have recently modified their holdings of the stock. NBC Securities Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at approximately $34,000. Geneos Wealth Management Inc. boosted its holdings in Verona Pharma PLC American Depositary Share by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company’s stock valued at $40,000 after acquiring an additional 193 shares during the period. Vermillion Wealth Management Inc. purchased a new position in Verona Pharma PLC American Depositary Share during the 4th quarter valued at $46,000. Acadian Asset Management LLC purchased a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at $48,000. Finally, NewEdge Advisors LLC purchased a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at $58,000. Institutional investors own 85.88% of the company’s stock.

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.