Stock Traders Purchase High Volume of Put Options on Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) saw unusually large options trading activity on Monday. Stock investors purchased 12,870 put options on the stock. This is an increase of 241% compared to the average volume of 3,774 put options.

Verona Pharma PLC American Depositary Share Stock Performance

Verona Pharma PLC American Depositary Share stock traded down $2.01 during midday trading on Thursday, reaching $90.92. The company's stock had a trading volume of 1,008,524 shares, compared to its average volume of 1,320,831. The company has a debt-to-equity ratio of 1.07, a quick ratio of 8.73 and a current ratio of 8.86. The business has a 50-day moving average price of $73.21 and a 200-day moving average price of $61.35. Verona Pharma PLC American Depositary Share has a 52 week low of $14.14 and a 52 week high of $94.45.

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

Insiders Place Their Bets

In other news, CEO David Zaccardelli sold 90,360 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total value of $811,432.80. Following the completion of the transaction, the chief executive officer now owns 14,377,176 shares of the company's stock, valued at $129,107,040.48. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kathleen A. Rickard sold 34,384 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total value of $308,768.32. Following the completion of the sale, the insider now directly owns 2,660,656 shares of the company's stock, valued at $23,892,690.88. The trade was a 1.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,965,800 shares of company stock valued at $20,056,881. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. 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. grew its stake 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 period. Vermillion Wealth Management Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth about $46,000. Acadian Asset Management LLC bought a new position in shares of Verona Pharma PLC American Depositary Share during the first quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC bought a new position in shares of Verona Pharma PLC American Depositary Share during the first quarter valued at $58,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VRNA shares. Cantor Fitzgerald increased 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 research report on Wednesday, June 11th. TD Cowen began coverage on Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They set a "buy" rating and a $100.00 price target on the stock. Roth Capital reaffirmed a "buy" rating and issued a $116.00 price target (up from $92.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday. HC Wainwright lifted their target price on Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, June 2nd. Finally, Cowen began coverage on shares of Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They set a "buy" rating for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $91.11.

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.