Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Earns Hold Rating from Canaccord Genuity Group

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $107.00 price objective on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 2.05% from the company's previous close.

Several other research analysts have also recently issued reports on VRNA. HC Wainwright increased their price target on Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, June 2nd. Cowen began coverage on Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They set a "buy" rating for the company. TD Cowen began coverage on Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They issued a "buy" rating and a $100.00 price objective for the company. Wells Fargo & Company increased 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 note on Friday, June 20th. Finally, Wolfe Research started coverage on Verona Pharma PLC American Depositary Share in a report on Tuesday, July 1st. They set an "outperform" rating and a $170.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $107.45.

Verona Pharma PLC American Depositary Share Price Performance

VRNA stock traded up $0.08 during trading on Wednesday, hitting $104.85. The stock had a trading volume of 15,987,875 shares, compared to its average volume of 1,569,746. 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 stock has a market cap of $8.93 billion, a price-to-earnings ratio of -52.43 and a beta of 0.24. The company's 50 day moving average price is $82.60 and its two-hundred day moving average price is $66.84. Verona Pharma PLC American Depositary Share has a 1-year low of $17.96 and a 1-year 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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. On average, sell-side analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Verona Pharma PLC American Depositary Share news, General Counsel Andrew Fisher sold 80,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $11.53, for a total value of $922,400.00. Following the transaction, the general counsel directly owned 359,999 shares of the company's stock, valued at approximately $4,150,788.47. This trade represents a 18.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kathleen A. Rickard sold 114,984 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 2,546,472 shares in the company, valued at $22,459,883.04. This trade represents a 4.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,965,800 shares of company stock worth $20,056,881. 4.80% of the stock is owned by company insiders.

Institutional Trading of Verona Pharma PLC American Depositary Share

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRNA. NBC Securities Inc. bought a new stake in Verona Pharma PLC American Depositary Share during the 1st quarter valued at approximately $34,000. Geneos Wealth Management Inc. boosted its holdings in Verona Pharma PLC American Depositary Share by 44.2% during the 1st 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 stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth $46,000. Acadian Asset Management LLC acquired a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $48,000. Finally, NewEdge Advisors LLC acquired a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $58,000. Institutional investors own 85.88% of the company's stock.

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.