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

Shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNAGet Free Report) 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 trading hands. The stock had previously closed at $94.32.

A number of other brokerages also recently issued reports on VRNA. TD Cowen assumed coverage on shares of 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. Wells Fargo & Company boosted 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 report on Friday, June 20th. HC Wainwright boosted their price objective on shares of Verona Pharma PLC American Depositary Share from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. 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. Finally, Jefferies Financial Group boosted their price target on shares of 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. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $101.10.

Read Our Latest Stock Analysis on VRNA

Insider Activity

In related news, General Counsel Andrew Fisher sold 26,072 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $234,126.56. Following the transaction, the general counsel now directly owns 359,993 shares in the company, valued at approximately $3,232,737.14. This represents a 6.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Zaccardelli sold 90,360 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $811,432.80. Following the transaction, the chief executive officer now owns 14,377,176 shares in the company, valued at $129,107,040.48. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,965,800 shares of company stock worth $20,056,881. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verona Pharma PLC American Depositary Share

Hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Verona Pharma PLC American Depositary Share during the 1st quarter valued at about $34,000. Geneos Wealth Management Inc. grew its holdings in Verona Pharma PLC American Depositary Share by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 630 shares of the company’s stock valued at $40,000 after purchasing an additional 193 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Verona Pharma PLC American Depositary Share during the 4th quarter valued at about $46,000. Acadian Asset Management LLC bought a new position in Verona Pharma PLC American Depositary Share in the 1st quarter worth about $48,000. Finally, NewEdge Advisors LLC bought a new position in Verona Pharma PLC American Depositary Share in the 1st quarter worth about $58,000. 85.88% of the stock is currently owned by institutional investors.

Verona Pharma PLC American Depositary Share Price Performance

The company has a debt-to-equity ratio of 1.07, a quick ratio of 8.73 and a current ratio of 8.86. The firm has a market capitalization of $8.28 billion, a P/E ratio of -48.61 and a beta of 0.21. The stock’s 50 day simple moving average is $76.24 and its 200 day simple moving average is $63.03.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNAGet Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. As a group, analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 earnings per share for the current fiscal year.

About Verona Pharma PLC American Depositary Share

(Get Free Report)

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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