Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Given New $138.00 Price Target at Wells Fargo & Company

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) had its price target lifted by equities researchers at Wells Fargo & Company from $107.00 to $138.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 51.78% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. Roth Capital restated a "buy" rating and set a $116.00 price target (up previously from $92.00) on shares of Verona Pharma PLC American Depositary Share in a report on Wednesday. Jefferies Financial Group boosted their price objective on Verona Pharma PLC American Depositary Share from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. Cowen initiated coverage on shares of Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They issued a "buy" rating on the stock. Cantor Fitzgerald lifted their price target on shares of Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Finally, TD Cowen assumed coverage on shares of Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They issued a "buy" rating and a $100.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $94.56.

Verona Pharma PLC American Depositary Share Price Performance

Shares of VRNA opened at $90.92 on Friday. 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 fifty-two week low of $14.14 and a fifty-two week high of $94.45. The company has a market cap of $7.74 billion, a P/E ratio of -45.46 and a beta of 0.21. The firm's 50 day moving average price is $73.95 and its 200 day moving average price is $61.70.

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 for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. On average, research analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Verona Pharma PLC American Depositary Share news, insider Kathleen A. Rickard sold 34,384 shares of Verona Pharma PLC American Depositary Share stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $308,768.32. Following the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Hahn sold 400,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were 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 now owns 12,278,992 shares of the company's stock, valued at approximately $139,980,508.80. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,965,800 shares of company stock valued at $20,056,881. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in Verona Pharma PLC American Depositary Share in the 4th quarter valued at $720,000. Wells Fargo & Company MN increased its stake in Verona Pharma PLC American Depositary Share by 27.2% in the fourth quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock valued at $3,117,000 after purchasing an additional 14,362 shares during the period. Northern Trust Corp purchased a new stake in shares of Verona Pharma PLC American Depositary Share in the fourth quarter valued at about $362,000. Cetera Investment Advisers boosted its stake in shares of Verona Pharma PLC American Depositary Share by 113.4% during the fourth quarter. Cetera Investment Advisers now owns 23,265 shares of the company's stock worth $1,080,000 after buying an additional 12,362 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of Verona Pharma PLC American Depositary Share during the fourth quarter worth about $285,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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