Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Hits New 52-Week High After Analyst Upgrade

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)’s stock price hit a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $76.00 to $160.00. Piper Sandler currently has an overweight rating on the stock. Verona Pharma PLC American Depositary Share traded as high as $96.36 and last traded at $96.71, with a volume of 785743 shares changing hands. The stock had previously closed at $94.32.

Several other research analysts have also recently commented on the stock. HC Wainwright raised their target price on shares of Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Wells Fargo & Company lifted their price objective on shares of Verona Pharma PLC American Depositary Share from $107.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday. Roth Capital reissued a “buy” rating and issued a $116.00 price objective (up from $92.00) on shares of Verona Pharma PLC American Depositary Share in a research note on Wednesday, June 18th. TD 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 and a $100.00 price objective on the stock. Finally, Cantor Fitzgerald lifted 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 research note on Wednesday, June 11th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $101.10.

Insiders Place Their Bets

In related news, General Counsel Andrew Fisher sold 80,000 shares of the company’s stock in a transaction that occurred 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 now directly owns 359,999 shares in the company, valued at approximately $4,150,788.47. This represents a 18.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vikas Sinha sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total transaction of $178,400.00. Following the sale, the director now owns 74,440 shares in the company, valued at $664,004.80. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,965,800 shares of company stock valued at $20,056,881. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Verona Pharma PLC American Depositary Share

Several institutional investors and hedge funds have recently bought and sold shares of VRNA. New York State Common Retirement Fund bought a new position in shares of Verona Pharma PLC American Depositary Share in the 4th quarter worth $285,000. Transcend Capital Advisors LLC bought a new position in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at $225,000. Wrapmanager Inc. bought a new position in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at $207,000. Keybank National Association OH bought a new position in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at $300,000. Finally, M&T Bank Corp bought a new position in shares of Verona Pharma PLC American Depositary Share during the 4th quarter valued at $243,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Verona Pharma PLC American Depositary Share Stock Performance

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 company’s fifty day moving average is $74.68 and its 200 day moving average is $62.40. The company has a market cap of $7.86 billion, a P/E ratio of -48.36 and a beta of 0.21.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 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.

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.