Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Director Sells $23,757.12 in Stock

Key Points

• Director Christina Ackermann of Verona Pharma PLC sold 1,808 shares at an average price of $13.14, reducing her ownership by 2.74%.
• The company's stock recently received downgrades from multiple brokerages, shifting from "strong-buy" to "hold" ratings, with the average target price now set at $109.00.
• Verona Pharma is focused on developing therapies for respiratory diseases, with its key product candidate ensifentrine currently in Phase 3 clinical trials.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) Director Christina Ackermann sold 1,808 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $13.14, for a total value of $23,757.12. Following the transaction, the director owned 64,072 shares in the company, valued at $841,906.08. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Verona Pharma PLC American Depositary Share Stock Performance

Verona Pharma PLC American Depositary Share stock traded down $0.12 during midday trading on Friday, reaching $105.28. 610,545 shares of the company traded hands, compared to its average volume of 4,298,595. The company has a debt-to-equity ratio of 0.87, a current ratio of 10.71 and a quick ratio of 8.73. Verona Pharma PLC American Depositary Share has a 12 month low of $21.56 and a 12 month high of $105.50. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of -106.34 and a beta of 0.12. The business has a 50 day moving average of $97.20 and a two-hundred day moving average of $75.53.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.14. The company had revenue of $103.14 million during the quarter, compared to analyst estimates of $90.41 million. Verona Pharma PLC American Depositary Share had a negative return on equity of 21.12% and a negative net margin of 36.62%. As a group, research analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VRNA shares. Wells Fargo & Company cut shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and lowered their price target for the company from $138.00 to $107.00 in a research report on Thursday, July 10th. HC Wainwright restated a "neutral" rating and issued a $107.00 price target (up previously from $90.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Monday, July 14th. 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. Canaccord Genuity Group downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 price objective on the stock. in a research report on Wednesday, July 9th. Finally, TD Cowen lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Verona Pharma PLC American Depositary Share has an average rating of "Hold" and a consensus target price of $109.00.

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 business. NBC Securities Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share in the first quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its holdings in 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 valued at $40,000 after acquiring an additional 193 shares during the period. Vermillion Wealth Management Inc. purchased a new position in shares of Verona Pharma PLC American Depositary Share in the fourth quarter valued at about $46,000. Acadian Asset Management LLC bought a new position in shares of Verona Pharma PLC American Depositary Share in the first quarter worth about $48,000. Finally, IFP Advisors Inc purchased a new stake in shares of Verona Pharma PLC American Depositary Share during the second quarter worth about $52,000. 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.