Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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 reissued an “outperform” rating and issued a $33.00 price objective on shares of Verona Pharma PLC American Depositary Share in a research 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.20.

Shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) opened at $12.48 on Friday. Verona Pharma PLC American Depositary Share has a 1 year low of $11.03 and a 1 year high of $17.50.

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A number of large investors have recently added to or reduced their stakes in the stock. FIL Ltd bought a new position in Verona Pharma PLC American Depositary Share during the second quarter worth about $873,000. Tekla Capital Management LLC bought a new position in Verona Pharma PLC American Depositary Share during the second quarter worth about $3,211,000. Finally, Vivo Capital LLC acquired a new stake in Verona Pharma PLC American Depositary Share during the second quarter worth about $8,208,000. 30.16% of the stock is currently owned by institutional investors and hedge funds.

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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