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

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) shares saw an uptick in trading volume on Thursday . 6,937,864 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on VRNA. Piper Sandler set a $160.00 price objective on shares of Verona Pharma PLC American Depositary Share and gave the company an "overweight" rating in a research note on Monday, June 23rd. Canaccord Genuity Group lowered shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and set a $107.00 price objective on the stock. in a research note on Wednesday. Roth Capital downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday. Cantor Fitzgerald lifted their target price on shares of 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. Finally, BTIG Research downgraded shares of Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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 current ratio of 8.86 and a quick ratio of 8.73. The company has a market cap of $8.92 billion, a price-to-earnings ratio of -52.42 and a beta of 0.24. The business's 50-day simple moving average is $83.89 and its 200-day simple moving average is $67.97.

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, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. Research analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kathleen A. Rickard sold 114,984 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $8.82, for a total transaction of $1,014,158.88. Following the completion of the transaction, the insider owned 2,546,472 shares of the company's stock, valued at approximately $22,459,883.04. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Zaccardelli sold 400,000 shares of the company'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 transaction of $4,560,000.00. Following the transaction, the chief executive officer directly 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,965,800 shares of company stock worth $20,056,881. Corporate insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

Several institutional investors and hedge funds have recently bought and sold shares of VRNA. RTW Investments LP acquired a new position in Verona Pharma PLC American Depositary Share during the fourth quarter worth approximately $84,568,000. Adage Capital Partners GP L.L.C. grew its stake in Verona Pharma PLC American Depositary Share by 381.9% during 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 period. Wellington Management Group LLP grew its stake in Verona Pharma PLC American Depositary Share by 61.0% during 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 period. Lord Abbett & CO. LLC purchased a new stake in Verona Pharma PLC American Depositary Share during the first quarter worth approximately $58,716,000. Finally, Darwin Global Management Ltd. purchased 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.

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.