Verona Pharma PLC American Depositary Share’s (VRNA) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) in a research note released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $100.00 price target on the stock.

A number of other equities research analysts have also issued reports on VRNA. Piper Sandler lowered Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Cowen lowered Verona Pharma PLC American Depositary Share from a “buy” rating to a “hold” rating in a research report on Wednesday, July 9th. TD Cowen lowered Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. HC Wainwright reissued a “neutral” rating and set a $107.00 target price (up previously from $90.00) on shares of Verona Pharma PLC American Depositary Share in a research report on Monday, July 14th. Finally, Truist Financial lowered Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $109.00.

Verona Pharma PLC American Depositary Share Price Performance

VRNA stock opened at $106.91 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 10.71 and a quick ratio of 10.54. The firm has a market capitalization of $9.21 billion, a P/E ratio of -107.99 and a beta of 0.05. The business’s 50-day moving average is $106.09 and its two-hundred day moving average is $89.08. Verona Pharma PLC American Depositary Share has a 1 year low of $31.09 and a 1 year high of $106.93.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. The company had revenue of $103.14 million for 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%. Analysts anticipate that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

Insider Activity at Verona Pharma PLC American Depositary Share

In other Verona Pharma PLC American Depositary Share news, Director Michael Austwick sold 11,288 shares of Verona Pharma PLC American Depositary Share stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $13.14, for a total transaction of $148,324.32. Following the transaction, the director owned 12,712 shares of the company’s stock, valued at $167,035.68. The trade was a 47.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Zaccardelli sold 208,912 shares of Verona Pharma PLC American Depositary Share stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $13.14, for a total value of $2,745,103.68. Following the transaction, the chief executive officer directly owned 13,376,144 shares in the company, valued at approximately $175,762,532.16. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 540,584 shares of company stock valued at $7,103,274 over the last 90 days. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VRNA. Adage Capital Partners GP L.L.C. grew its stake in shares of Verona Pharma PLC American Depositary Share by 381.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,631,000 shares of the company’s stock valued at $103,552,000 after purchasing an additional 1,292,575 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at approximately $58,716,000. Goldman Sachs Group Inc. grew its stake in shares of Verona Pharma PLC American Depositary Share by 274.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,041,408 shares of the company’s stock valued at $66,119,000 after purchasing an additional 763,353 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Verona Pharma PLC American Depositary Share in the 1st quarter valued at approximately $33,150,000. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Verona Pharma PLC American Depositary Share in the 2nd quarter valued at approximately $51,056,000. 85.88% of the stock is currently 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.