Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) Price Target Raised to $138.00 at Wells Fargo & Company

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) had its price target hoisted by Wells Fargo & Company from $107.00 to $138.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the company. Cowen started coverage on Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They issued a “buy” rating for the company. Cantor Fitzgerald upped their price target 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. HC Wainwright increased their price target on Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. TD Cowen initiated coverage on Verona Pharma PLC American Depositary Share in a research report on Monday, April 28th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Jefferies Financial Group lifted their price objective on Verona Pharma PLC American Depositary Share from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma PLC American Depositary Share currently has an average rating of “Buy” and an average target price of $94.56.

Verona Pharma PLC American Depositary Share Stock Up 3.7%

Shares of NASDAQ VRNA opened at $94.32 on Friday. The company has a 50 day simple moving average of $74.68 and a 200 day simple moving average of $62.09. The company has a debt-to-equity ratio of 1.07, a current ratio of 8.86 and a quick ratio of 8.73. Verona Pharma PLC American Depositary Share has a 1 year low of $14.14 and a 1 year high of $94.45. The firm has a market cap of $8.03 billion, a PE ratio of -47.16 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, beating the consensus estimate of ($0.22) by $0.49. The business had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. On average, research analysts forecast that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current year.

Insiders Place Their Bets

In other Verona Pharma PLC American Depositary Share news, General Counsel Andrew Fisher sold 26,072 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total value of $234,126.56. Following the transaction, the general counsel now directly owns 359,993 shares of the company’s stock, valued at approximately $3,232,737.14. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathleen A. Rickard sold 34,384 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total value of $308,768.32. Following the transaction, the insider now owns 2,660,656 shares in the company, valued at $23,892,690.88. The trade was a 1.28% 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 worth $20,056,881. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. bought a new stake in Verona Pharma PLC American Depositary Share in the first quarter valued at $34,000. Geneos Wealth Management Inc. grew its stake in shares of Verona Pharma PLC American Depositary Share by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company’s stock valued at $40,000 after buying an additional 193 shares during the period. Vermillion Wealth Management Inc. acquired a new stake in shares of Verona Pharma PLC American Depositary Share in the 4th quarter valued at about $46,000. Acadian Asset Management LLC bought a new stake in Verona Pharma PLC American Depositary Share in the 1st quarter valued at about $48,000. Finally, NewEdge Advisors LLC acquired a new position in Verona Pharma PLC American Depositary Share during the 1st quarter worth approximately $58,000. 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.