Verona Pharma PLC American Depositary Share's (VRNA) Hold Rating Reaffirmed at Jefferies Financial Group

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Jefferies Financial Group in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $107.00 price target on the stock, down from their prior price target of $140.00. Jefferies Financial Group's target price suggests a potential upside of 2.13% from the company's previous close.

Several other equities research analysts have also weighed in on VRNA. Wolfe Research assumed coverage on shares of Verona Pharma PLC American Depositary Share in a research note on Tuesday, July 1st. They set an "outperform" rating and a $170.00 price objective on the stock. Roth Capital restated a "buy" rating and issued a $116.00 price target (up previously from $92.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday, June 18th. Cowen initiated coverage on shares of Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They issued a "buy" rating on the stock. Cantor Fitzgerald increased their price objective 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, TD Cowen initiated coverage on shares of Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They issued a "buy" rating and a $100.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.27.

Verona Pharma PLC American Depositary Share Trading Up 20.6%

Shares of VRNA stock traded up $17.91 during trading hours on Wednesday, reaching $104.77. 65,570,666 shares of the stock were exchanged, compared to its average volume of 1,510,222. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of -52.39 and a beta of 0.24. The company has a current ratio of 8.86, a quick ratio of 8.73 and a debt-to-equity ratio of 1.07. Verona Pharma PLC American Depositary Share has a 12-month low of $16.61 and a 12-month high of $104.98. The company's 50-day moving average price is $81.95 and its 200-day moving average price is $66.58.

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 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. As a group, equities analysts anticipate that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current year.

Insider Activity at Verona Pharma PLC American Depositary Share

In related news, insider Kathleen A. Rickard sold 114,984 shares of the company's stock in a transaction 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 sale, the insider directly owned 2,546,472 shares in the company, valued at $22,459,883.04. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew Fisher sold 80,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $11.53, for a total transaction of $922,400.00. Following the sale, the general counsel owned 359,999 shares of the company's stock, valued at $4,150,788.47. This represents a 18.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,965,800 shares of company stock valued at $20,056,881. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp purchased a new stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth about $243,000. Raymond James Financial Inc. purchased a new stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth about $225,000. EverSource Wealth Advisors LLC grew its position in shares of Verona Pharma PLC American Depositary Share by 3,074.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,158 shares of the company's stock worth $286,000 after buying an additional 5,964 shares during the period. HBK Sorce Advisory LLC grew its position in Verona Pharma PLC American Depositary Share by 387.1% during the 4th quarter. HBK Sorce Advisory LLC now owns 35,814 shares of the company's stock valued at $1,663,000 after purchasing an additional 28,461 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Verona Pharma PLC American Depositary Share by 108.1% during the 4th quarter. LPL Financial LLC now owns 30,033 shares of the company's stock valued at $1,395,000 after acquiring an additional 15,598 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.

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