Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Hits New 1-Year High - What's Next?

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $105.30 and last traded at $104.96, with a volume of 1569702 shares changing hands. The stock had previously closed at $104.78.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Cantor Fitzgerald boosted their target price on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. TD Cowen lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Jefferies Financial Group restated a "hold" rating and issued a $107.00 target price (down from $140.00) on shares of Verona Pharma PLC American Depositary Share in a report on Wednesday, July 9th. Finally, Truist Financial lowered Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 9th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $109.00.

Verona Pharma PLC American Depositary Share Stock Performance

The company has a quick ratio of 8.73, a current ratio of 8.86 and a debt-to-equity ratio of 1.07. The stock has a 50 day simple moving average of $87.55 and a two-hundred day simple moving average of $69.85. The stock has a market capitalization of $8.93 billion, a P/E ratio of -52.45 and a beta of 0.24.

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 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. On average, equities analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current fiscal year.

Insider Transactions at Verona Pharma PLC American Depositary Share

In other news, CEO David Zaccardelli sold 400,000 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the completion of the transaction, the chief executive officer owned 13,190,168 shares of the company's stock, valued at approximately $150,367,915.20. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathleen A. Rickard sold 114,984 shares of the business'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 transaction, the insider directly owned 2,546,472 shares of the company's stock, 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 90 days, insiders sold 1,965,800 shares of company stock valued at $20,056,881. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in Verona Pharma PLC American Depositary Share during the 1st quarter worth $34,000. Geneos Wealth Management Inc. grew its position in shares of Verona Pharma PLC American Depositary Share by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock valued at $40,000 after buying an additional 193 shares during the last quarter. Vermillion Wealth Management Inc. bought a new stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter valued at about $46,000. Acadian Asset Management LLC bought a new stake in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at about $48,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at about $58,000. 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.