Roth Capital Downgrades Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) to Hold

Roth Capital downgraded shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

VRNA has been the subject of several other reports. Cowen began coverage on shares of Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They issued a "buy" rating for the company. Piper Sandler set a $160.00 target price on Verona Pharma PLC American Depositary Share and gave the stock an "overweight" rating in a report on Monday, June 23rd. Cantor Fitzgerald increased their price objective 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. HC Wainwright upped their price target on shares of 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. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $107.00 price objective (down from $140.00) on shares of Verona Pharma PLC American Depositary Share in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $107.45.

Verona Pharma PLC American Depositary Share Price Performance

Shares of Verona Pharma PLC American Depositary Share stock traded down $0.02 during trading on Thursday, reaching $104.83. 10,916,452 shares of the stock were exchanged, compared to its average volume of 1,598,487. Verona Pharma PLC American Depositary Share has a 1 year low of $18.51 and a 1 year high of $104.99. 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's fifty day moving average is $83.25 and its 200 day moving average is $67.25.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last posted its earnings results 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 business had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. Sell-side analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Zaccardelli sold 400,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 13,190,168 shares of the company's stock, valued at $150,367,915.20. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew Fisher sold 80,000 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $11.53, for a total value of $922,400.00. Following the transaction, the general counsel 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 disclosure for this sale can be found here. Insiders have sold a total of 1,965,800 shares of company stock valued at $20,056,881 over the last three months. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. M&T Bank Corp bought a new position in Verona Pharma PLC American Depositary Share in the 4th quarter worth approximately $243,000. Raymond James Financial Inc. bought a new position in Verona Pharma PLC American Depositary Share in the 4th quarter worth approximately $225,000. EverSource Wealth Advisors LLC boosted its stake in Verona Pharma PLC American Depositary Share by 3,074.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,158 shares of the company's stock worth $286,000 after purchasing an additional 5,964 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of Verona Pharma PLC American Depositary Share by 387.1% during the fourth quarter. HBK Sorce Advisory LLC now owns 35,814 shares of the company's stock worth $1,663,000 after acquiring an additional 28,461 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of Verona Pharma PLC American Depositary Share by 108.1% during the fourth quarter. LPL Financial LLC now owns 30,033 shares of the company's stock worth $1,395,000 after acquiring an additional 15,598 shares during the last quarter. Hedge funds and other 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.