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 Wells Fargo & Company in a note issued to investors on Thursday,Benzinga reports. They currently have a $107.00 price target on the stock, down from their previous price target of $138.00. Wells Fargo & Company's target price points to a potential upside of 2.05% from the company's previous close.

A number of other research analysts have also weighed in on VRNA. Piper Sandler set a $160.00 target price on shares of Verona Pharma PLC American Depositary Share and gave the stock an "overweight" rating in a research report on Monday, June 23rd. TD Cowen initiated coverage on shares of Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They issued a "buy" rating and a $100.00 price target for the company. Cowen began coverage on Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They set a "buy" rating for the company. Cantor Fitzgerald increased their price objective on 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. Finally, Canaccord Genuity Group reissued a "hold" rating and set a $107.00 price target on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Verona Pharma PLC American Depositary Share presently has an average rating of "Moderate Buy" and an average target price of $107.45.

Verona Pharma PLC American Depositary Share Stock Up 0.1%

Verona Pharma PLC American Depositary Share stock traded up $0.08 during mid-day trading on Thursday, hitting $104.85. The company's stock had a trading volume of 15,987,875 shares, compared to its average volume of 1,569,746. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07. The stock's fifty day moving average price is $82.60 and its two-hundred day moving average price is $66.84. Verona Pharma PLC American Depositary Share has a twelve month low of $17.96 and a twelve month high of $104.99.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $98.65 million for 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 fiscal year.

Insider Buying and Selling

In other Verona Pharma PLC American Depositary Share news, CFO Mark W. Hahn sold 400,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were 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 financial officer owned 12,278,992 shares in the company, valued at $139,980,508.80. This trade represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew Fisher sold 80,000 shares of the business's stock in a transaction that occurred 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 transaction, the general counsel directly 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 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. 4.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. lifted its position in Verona Pharma PLC American Depositary Share by 2.2% during the first quarter. Frazier Life Sciences Management L.P. now owns 3,457,850 shares of the company's stock worth $219,539,000 after acquiring an additional 73,900 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Verona Pharma PLC American Depositary Share by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after acquiring an additional 1,146,609 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Verona Pharma PLC American Depositary Share by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,866,280 shares of the company's stock valued at $118,491,000 after purchasing an additional 32,748 shares in the last quarter. RTW Investments LP bought a new stake in shares of Verona Pharma PLC American Depositary Share during the 4th quarter worth $84,568,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Verona Pharma PLC American Depositary Share by 59.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock valued at $77,466,000 after purchasing an additional 624,370 shares in the last quarter. 85.88% of the stock is owned by institutional investors.

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.