Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Reaches 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 during mid-day trading on Wednesday . The stock traded as high as $106.50 and last traded at $106.28, with a volume of 68165 shares changing hands. The stock had previously closed at $106.30.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating and dropped their target price for the company from $138.00 to $107.00 in a research report on Thursday, July 10th. BTIG Research cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Wolfe Research cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Truist Financial cut Verona Pharma PLC American Depositary Share from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $107.00 target price (down previously from $140.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Verona Pharma PLC American Depositary Share currently has a consensus rating of "Hold" and a consensus price target of $109.00.

Verona Pharma PLC American Depositary Share Price Performance

The company has a market cap of $9.21 billion, a PE ratio of -107.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 10.54 and a current ratio of 10.71. The stock has a 50 day moving average of $104.80 and a 200-day moving average of $83.43.

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

Insider Buying and Selling at Verona Pharma PLC American Depositary Share

In other Verona Pharma PLC American Depositary Share news, General Counsel Andrew Fisher sold 80,000 shares of Verona Pharma PLC American Depositary Share stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $11.53, for a total transaction of $922,400.00. Following the completion of the transaction, the general counsel owned 359,999 shares in the company, valued at approximately $4,150,788.47. This trade represents a 18.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Zaccardelli sold 208,912 shares of Verona Pharma PLC American Depositary Share stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $13.14, for a total value of $2,745,103.68. Following the transaction, the chief executive officer owned 13,376,144 shares of the company's stock, valued at $175,762,532.16. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 620,584 shares of company stock worth $8,025,674. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

Institutional investors have recently modified their holdings of the stock. NBC Securities Inc. purchased a new position in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $34,000. IFP Advisors Inc purchased a new position in shares of Verona Pharma PLC American Depositary Share during the 2nd quarter valued at about $52,000. Geneos Wealth Management Inc. increased its stake in shares of Verona Pharma PLC American Depositary Share by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company's stock valued at $40,000 after purchasing an additional 193 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at about $48,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Verona Pharma PLC American Depositary Share by 278.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 764 shares of the company's stock valued at $72,000 after purchasing an additional 562 shares in 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.