Verona Pharma PLC American Depositary Share's (VRNA) "Equal Weight" Rating Reaffirmed at Wells Fargo & Company

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report)'s stock had its "equal weight" rating reiterated by stock analysts at Wells Fargo & Company in a report issued on Thursday,Benzinga reports. They presently have a $107.00 target price on the stock, down from their previous target price of $138.00. Wells Fargo & Company's price objective suggests a potential upside of 2.13% from the company's previous close.

Several other research firms also recently weighed in on VRNA. HC Wainwright raised their target price on shares of 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 increased their price target on shares of Verona Pharma PLC American Depositary Share from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Cowen initiated coverage on shares of Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They set a "buy" rating for the company. TD Cowen started coverage on Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They issued a "buy" rating and a $100.00 target price on the stock. Finally, Wolfe Research assumed 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 target for the company. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.45.

Verona Pharma PLC American Depositary Share Price Performance

Shares of NASDAQ:VRNA opened at $104.77 on Thursday. Verona Pharma PLC American Depositary Share has a one year low of $16.91 and a one year high of $104.93. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of -52.39 and a beta of 0.24. The company has a 50-day simple moving average of $82.60 and a 200-day simple moving average of $66.84. The company has a debt-to-equity ratio of 1.07, a quick ratio of 8.73 and a current ratio of 8.86.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued 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 firm had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. On average, analysts predict that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

Insider Buying and Selling at Verona Pharma PLC American Depositary Share

In related news, General Counsel Andrew Fisher sold 80,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $11.53, for a total value of $922,400.00. Following the completion of the transaction, the general counsel owned 359,999 shares in the company, valued at $4,150,788.47. This trade represents a 18.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 400,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $11.40, for a total transaction of $4,560,000.00. Following the sale, the chief financial officer directly owned 12,278,992 shares of the company's stock, valued at $139,980,508.80. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,965,800 shares of company stock worth $20,056,881. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VRNA. NBC Securities Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share during the 1st quarter valued at $34,000. Geneos Wealth Management Inc. increased its position in 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 worth $40,000 after buying an additional 193 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new position in Verona Pharma PLC American Depositary Share during the fourth quarter worth $46,000. Acadian Asset Management LLC bought a new position in Verona Pharma PLC American Depositary Share during the first quarter valued at about $48,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the first quarter worth about $58,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.