Verona Pharma PLC American Depositary Share $VRNA Position Trimmed by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC decreased its holdings in shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,041 shares of the company’s stock after selling 973 shares during the period. HBK Sorce Advisory LLC’s holdings in Verona Pharma PLC American Depositary Share were worth $2,936,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. bought a new stake in Verona Pharma PLC American Depositary Share during the first quarter valued at $284,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Verona Pharma PLC American Depositary Share by 366.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,486 shares of the company’s stock valued at $720,000 after purchasing an additional 9,021 shares during the last quarter. GAMMA Investing LLC increased its stake in Verona Pharma PLC American Depositary Share by 14.0% during the first quarter. GAMMA Investing LLC now owns 1,837 shares of the company’s stock valued at $117,000 after purchasing an additional 225 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Verona Pharma PLC American Depositary Share during the second quarter valued at $389,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Verona Pharma PLC American Depositary Share during the second quarter valued at $1,492,000. Institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group downgraded shares of Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating and set a $107.00 price target for the company. in a report on Wednesday, July 9th. Wolfe Research downgraded shares of Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Wells Fargo & Company downgraded shares of Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating and reduced their price target for the company from $138.00 to $107.00 in a report on Thursday, July 10th. Truist Financial downgraded shares of Verona Pharma PLC American Depositary Share from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 9th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $107.00 price target (down previously from $140.00) on shares of Verona Pharma PLC American Depositary Share in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Verona Pharma PLC American Depositary Share presently has a consensus rating of “Hold” and an average price target of $109.00.

Insiders Place Their Bets

In related news, Director Vikas Sinha sold 4,328 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $13.14, for a total value of $56,869.92. Following the completion of the sale, the director owned 94,112 shares of the company’s stock, valued at $1,236,631.68. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Edwards sold 10,808 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $13.14, for a total transaction of $142,017.12. Following the completion of the sale, the director directly owned 157,992 shares of the company’s stock, valued at $2,076,014.88. The trade was a 6.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 540,584 shares of company stock valued at $7,103,274. Corporate insiders own 4.80% of the company’s stock.

Verona Pharma PLC American Depositary Share Stock Performance

VRNA stock opened at $106.91 on Thursday. The company has a market capitalization of $9.21 billion, a P/E ratio of -107.99 and a beta of 0.05. The company has a 50-day simple moving average of $106.48 and a 200 day simple moving average of $93.92. Verona Pharma PLC American Depositary Share has a fifty-two week low of $31.09 and a fifty-two week high of $106.93. The company has a quick ratio of 10.54, a current ratio of 10.71 and a debt-to-equity ratio of 0.87.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.14. The business had revenue of $103.14 million during the quarter, compared to the consensus estimate of $90.41 million. Verona Pharma PLC American Depositary Share had a negative net margin of 36.62% and a negative return on equity of 21.12%. Sell-side 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 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.