Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Cut to "Hold" at TD Cowen

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) was downgraded by TD Cowen from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

VRNA has been the subject of a number of other reports. Cantor Fitzgerald raised their price target on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Roth Capital downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday. BTIG Research downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday. 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 report on Monday, June 23rd. Finally, Wolfe Research assumed coverage on Verona Pharma PLC American Depositary Share in a research note on Tuesday, July 1st. They set an "outperform" rating and a $170.00 price target for the company. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $107.45.

Verona Pharma PLC American Depositary Share Stock Down 0.0%

Shares of NASDAQ:VRNA traded down $0.02 during trading on Wednesday, reaching $104.83. The company's stock had a trading volume of 10,916,452 shares, compared to its average volume of 1,598,487. The company has a quick ratio of 8.73, a current ratio of 8.86 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. The firm's 50 day simple moving average is $83.25 and its two-hundred day simple moving average is $67.25.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. Sell-side analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insider Transactions at Verona Pharma PLC American Depositary Share

In other Verona Pharma PLC American Depositary Share news, insider Kathleen A. Rickard sold 114,984 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $8.82, for a total value of $1,014,158.88. Following the completion of the sale, the insider directly owned 2,546,472 shares in the company, valued at approximately $22,459,883.04. This represents a 4.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Hahn 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 value of $4,560,000.00. Following the completion of the sale, the chief financial officer owned 12,278,992 shares of the company's stock, valued at $139,980,508.80. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,965,800 shares of company stock worth $20,056,881 over the last three months. Company insiders own 4.80% of the company's stock.

Institutional Trading of Verona Pharma PLC American Depositary Share

A number of hedge funds have recently added to or reduced their stakes in VRNA. Frazier Life Sciences Management L.P. lifted its position in shares of Verona Pharma PLC American Depositary Share by 2.2% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,457,850 shares of the company's stock worth $219,539,000 after purchasing an additional 73,900 shares during the period. Wellington Management Group LLP lifted its position in shares of Verona Pharma PLC American Depositary Share by 61.0% in the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after purchasing an additional 1,146,609 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Verona Pharma PLC American Depositary Share by 1.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,866,280 shares of the company's stock worth $118,491,000 after buying an additional 32,748 shares during the period. RTW Investments LP purchased a new stake in Verona Pharma PLC American Depositary Share during the fourth quarter worth $84,568,000. Finally, Janus Henderson Group PLC lifted its holdings in Verona Pharma PLC American Depositary Share by 59.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock worth $77,466,000 after buying an additional 624,370 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.