Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Hits New 52-Week High - Still a Buy?

Key Points

• Verona Pharma PLC shares reached a new 52-week high of $106.50 during trading, closing at $106.28 with a volume of 68,165 shares traded.
• Analyst ratings indicate a consensus of "Hold" with a price target of $109.00, with recent downgrades from various research firms affecting the stock's outlook.
• In the latest earnings report, Verona Pharma surpassed analysts' expectations by reporting $0.13 earnings per share and $103.14 million in revenue for the quarter.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $106.50 and last traded at $106.28, with a volume of 68165 shares. The stock had previously closed at $106.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. TD Cowen downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 9th. Cowen downgraded Verona Pharma PLC American Depositary Share from a "buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Zacks Research upgraded Verona Pharma PLC American Depositary Share to a "hold" rating in a research report on Friday, August 8th. Wells Fargo & Company downgraded Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and lowered their price objective for the stock from $138.00 to $107.00 in a research report on Thursday, July 10th. Finally, Roth Capital cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Verona Pharma PLC American Depositary Share presently has a consensus rating of "Hold" and a consensus price target of $109.00.

Verona Pharma PLC American Depositary Share Stock Down 0.0%

The company has a market cap of $9.17 billion, a P/E ratio of -107.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 10.71 and a quick ratio of 10.54. The company's 50-day moving average is $104.80 and its two-hundred day moving average is $83.68.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.14. Verona Pharma PLC American Depositary Share had a negative net margin of 36.62% and a negative return on equity of 21.12%. The business had revenue of $103.14 million during the quarter, compared to the consensus estimate of $90.41 million. As a group, equities analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director David R. Ebsworth sold 1,904 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $13.14, for a total transaction of $25,018.56. Following the completion of the sale, the director owned 880,499 shares of the company's stock, valued at $11,569,756.86. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Zaccardelli sold 208,912 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $13.14, for a total transaction of $2,745,103.68. Following the sale, the chief executive officer directly owned 13,376,144 shares of the company's stock, valued at approximately $175,762,532.16. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 540,584 shares of company stock worth $7,103,274 in the last 90 days. Insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Verona Pharma PLC American Depositary Share

Hedge funds have recently modified their holdings of the business. NBC Securities Inc. bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at $34,000. Geneos Wealth Management Inc. lifted its stake in shares of Verona Pharma PLC American Depositary Share by 44.2% during 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 in the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at $46,000. Acadian Asset Management LLC purchased a new position in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at $48,000. Finally, IFP Advisors Inc purchased a new position in shares of Verona Pharma PLC American Depositary Share during the 2nd quarter valued at $52,000. 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.