Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Sees Large Volume Increase - Here's Why

Shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) saw strong trading volume on Thursday . 6,937,864 shares traded hands during trading, an increase of 352% from the previous session's volume of 1,536,607 shares.The stock last traded at $104.95 and had previously closed at $104.77.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BTIG Research reissued a "neutral" rating on shares of Verona Pharma PLC American Depositary Share in a report on Thursday. HC Wainwright raised their price target on Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Cantor Fitzgerald raised their price target on Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Canaccord Genuity Group restated a "hold" rating and set a $107.00 price objective on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday. Finally, Wolfe Research initiated coverage on Verona Pharma PLC American Depositary Share in a research report on Tuesday, July 1st. They set an "outperform" rating and a $170.00 price objective for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $107.45.

Verona Pharma PLC American Depositary Share Trading Up 0.2%

The company has a debt-to-equity ratio of 1.07, a current ratio of 8.86 and a quick ratio of 8.73. The company has a market cap of $8.51 billion, a PE ratio of -52.49 and a beta of 0.24. The company has a 50-day moving average of $82.60 and a 200 day moving average of $66.84.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. Analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current year.

Insider Activity at Verona Pharma PLC American Depositary Share

In other Verona Pharma PLC American Depositary Share news, CFO Mark W. Hahn sold 400,000 shares of Verona Pharma PLC American Depositary Share stock in a transaction 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 transaction, the chief financial officer directly owned 12,278,992 shares of the company's stock, valued at approximately $139,980,508.80. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Zaccardelli sold 400,000 shares of Verona Pharma PLC American Depositary Share 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 directly owned 13,190,168 shares in the company, valued at $150,367,915.20. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,965,800 shares of company stock worth $20,056,881. Insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

A number of large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its holdings in shares of Verona Pharma PLC American Depositary Share by 44.2% during the first 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. GAMMA Investing LLC grew its holdings in shares of Verona Pharma PLC American Depositary Share by 14.0% during the first quarter. GAMMA Investing LLC now owns 1,837 shares of the company's stock valued at $117,000 after buying an additional 225 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of Verona Pharma PLC American Depositary Share by 1.9% during the fourth quarter. Townsquare Capital LLC now owns 17,958 shares of the company's stock valued at $834,000 after buying an additional 332 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Verona Pharma PLC American Depositary Share during the first quarter valued at $34,000. Finally, Advisors Preferred LLC grew its holdings in shares of Verona Pharma PLC American Depositary Share by 65.4% during the first quarter. Advisors Preferred LLC now owns 1,599 shares of the company's stock valued at $94,000 after buying an additional 632 shares during the last quarter. 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.

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