Verona Pharma PLC American Depositary Share (VRNA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “Verona Pharma plc is a clinical-stage biopharmaceutical company. It researches, discovers and develops therapeutic drugs to treat respiratory diseases primarily in the United Kingdom and North America. Verona Pharma plc is based in London, the United Kingdom. “

Separately, Wedbush reaffirmed an outperform rating and issued a $33.00 target price on shares of Verona Pharma PLC American Depositary Share in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $24.20.

Shares of Verona Pharma PLC American Depositary Share (VRNA) traded down $0.44 during mid-day trading on Friday, hitting $12.48. 1,000 shares of the stock were exchanged, compared to its average volume of 5,931. Verona Pharma PLC American Depositary Share has a 12 month low of $11.03 and a 12 month high of $17.50.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) last issued its earnings results on Tuesday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.09). analysts predict that Verona Pharma PLC American Depositary Share will post -2.55 earnings per share for the current year.

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Hedge funds have recently modified their holdings of the company. FIL Ltd acquired a new position in Verona Pharma PLC American Depositary Share in the 2nd quarter valued at about $873,000. Tekla Capital Management LLC acquired a new position in Verona Pharma PLC American Depositary Share in the 2nd quarter valued at about $3,211,000. Finally, Vivo Capital LLC acquired a new position in Verona Pharma PLC American Depositary Share in the 2nd quarter valued at about $8,208,000. 30.16% of the stock is currently owned by institutional investors.

Verona Pharma PLC American Depositary Share Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, researches, discovers, and develops therapeutic drugs to treat respiratory diseases primarily in the United Kingdom and North America. The company’s lead product is RPL554, an inhaled dual inhibitor of the enzymes phosphodiesterase 3 and 4, which is in Phase IIa clinical trial that acts as a bronchodilator and an anti-inflammatory agent for the treatment of chronic obstructive pulmonary disease, cystic fibrosis, and asthma.

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