Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Sees Unusually-High Trading Volume - What's Next?

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 6,937,864 shares changed 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 Analysts Forecast Growth

A number of research analysts recently issued reports on VRNA shares. Cowen lowered Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a report on Wednesday. TD Cowen cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Canaccord Genuity Group cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 price target on the stock. in a research note on Wednesday. Wolfe Research began coverage on Verona Pharma PLC American Depositary Share in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $170.00 price target on the stock. Finally, Piper Sandler set a $160.00 price target on Verona Pharma PLC American Depositary Share and gave the stock an "overweight" rating in a research note on Monday, June 23rd. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $107.45.

Verona Pharma PLC American Depositary Share Trading Down 0.0%

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 company has a 50 day simple moving average of $83.25 and a two-hundred day simple moving average of $67.25. The company has a market cap of $8.92 billion, a PE ratio of -52.42 and a beta of 0.24.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share 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 forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

Insiders Place Their Bets

In related news, CEO David Zaccardelli sold 400,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Hahn sold 400,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 12,278,992 shares in the company, valued at $139,980,508.80. This represents a 3.15% 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 worth $20,056,881. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

A number of hedge funds have recently added to or reduced their stakes in VRNA. RTW Investments LP acquired a new position in Verona Pharma PLC American Depositary Share in the fourth quarter worth approximately $84,568,000. Adage Capital Partners GP L.L.C. increased its holdings in Verona Pharma PLC American Depositary Share by 381.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,631,000 shares of the company's stock worth $103,552,000 after buying an additional 1,292,575 shares during the last quarter. Wellington Management Group LLP increased its holdings in Verona Pharma PLC American Depositary Share by 61.0% in the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after buying an additional 1,146,609 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Verona Pharma PLC American Depositary Share during the first quarter worth approximately $58,716,000. Finally, Darwin Global Management Ltd. bought a new stake in Verona Pharma PLC American Depositary Share during the fourth quarter worth approximately $37,637,000. Institutional investors and hedge funds 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.