HC Wainwright Reaffirms Neutral Rating for Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

HC Wainwright restated their neutral rating on shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a $107.00 price objective on the stock, up from their prior price objective of $90.00.

Other equities research analysts also recently issued research reports about the company. Piper Sandler set a $160.00 price objective on Verona Pharma PLC American Depositary Share and gave the company an "overweight" rating in a report on Monday, June 23rd. Wolfe Research downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Cowen downgraded Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a report on Wednesday, July 9th. Cantor Fitzgerald boosted their price objective on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Finally, BTIG Research downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $109.00.

Verona Pharma PLC American Depositary Share Trading Up 0.0%

VRNA stock traded up $0.04 during mid-day trading on Monday, reaching $104.78. The company's stock had a trading volume of 4,885,536 shares, compared to its average volume of 1,718,363. The company has a market cap of $8.92 billion, a price-to-earnings ratio of -52.39 and a beta of 0.24. The business's 50 day moving average price is $86.72 and its 200 day moving average price is $69.28. 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 has a 12 month low of $18.51 and a 12 month high of $104.99.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. On average, equities research analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Zaccardelli sold 400,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the sale, the chief executive officer owned 13,190,168 shares in the company, valued at approximately $150,367,915.20. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew Fisher sold 80,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $11.53, for a total value of $922,400.00. Following the sale, the general counsel owned 359,999 shares of the company's stock, valued at $4,150,788.47. This trade represents a 18.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,965,800 shares of company stock worth $20,056,881. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBC Securities Inc. purchased a new position in Verona Pharma PLC American Depositary Share in the first quarter worth $34,000. Geneos Wealth Management Inc. boosted its position in Verona Pharma PLC American Depositary Share by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock worth $40,000 after purchasing an additional 193 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Verona Pharma PLC American Depositary Share in the first quarter worth $48,000. NewEdge Advisors LLC purchased a new position in Verona Pharma PLC American Depositary Share in the first quarter worth $58,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Verona Pharma PLC American Depositary Share in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

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.