Mirae Asset Global Investments Co. Ltd. Has $720,000 Stock Holdings in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

Mirae Asset Global Investments Co. Ltd. boosted its position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) by 366.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,486 shares of the company's stock after buying an additional 9,021 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Verona Pharma PLC American Depositary Share were worth $720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRNA. Keybank National Association OH bought a new stake in Verona Pharma PLC American Depositary Share in the fourth quarter valued at about $300,000. M&T Bank Corp bought a new stake in Verona Pharma PLC American Depositary Share in the fourth quarter valued at about $243,000. Raymond James Financial Inc. bought a new stake in Verona Pharma PLC American Depositary Share in the fourth quarter valued at about $225,000. Personal CFO Solutions LLC bought a new position in shares of Verona Pharma PLC American Depositary Share during the fourth quarter valued at approximately $284,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Verona Pharma PLC American Depositary Share by 3,074.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,158 shares of the company's stock valued at $286,000 after purchasing an additional 5,964 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

Verona Pharma PLC American Depositary Share Price Performance

Shares of NASDAQ:VRNA traded down $0.51 on Monday, reaching $91.02. 110,652 shares of the company traded hands, compared to its average volume of 1,253,591. Verona Pharma PLC American Depositary Share has a fifty-two week low of $15.80 and a fifty-two week high of $99.01. The company's 50 day moving average is $81.23 and its 200-day moving average is $66.09. The stock has a market capitalization of $7.75 billion, a PE ratio of -45.44 and a beta of 0.24. The company has a debt-to-equity ratio of 1.07, a current ratio of 8.86 and a quick ratio of 8.73.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced 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 firm had revenue of $98.65 million for the quarter, compared to analyst estimates of $41.47 million. As a group, analysts anticipate that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insider Activity

In other Verona Pharma PLC American Depositary Share news, CEO David Zaccardelli sold 400,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the sale, the chief executive officer directly owned 13,190,168 shares of the company's stock, valued at $150,367,915.20. The trade was a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Hahn sold 400,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the sale, the chief financial officer directly owned 12,278,992 shares in the company, valued at approximately $139,980,508.80. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,965,800 shares of company stock valued at $20,056,881 in the last 90 days. Company insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRNA. Wolfe Research began coverage on Verona Pharma PLC American Depositary Share in a report on Tuesday, July 1st. They set an "outperform" rating and a $170.00 target price for the company. Roth Capital reiterated a "buy" rating and set a $116.00 price objective (up from $92.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday, June 18th. Piper Sandler set a $160.00 price objective on Verona Pharma PLC American Depositary Share and gave the stock an "overweight" rating in a research report on Monday, June 23rd. TD Cowen began coverage on Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They set a "buy" rating and a $100.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on Verona Pharma PLC American Depositary Share from $107.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $107.36.

About Verona Pharma PLC American Depositary Share

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.