Verona Pharma plc (NASDAQ:VRNA) is Artia Global Partners LP's 10th Largest Position

Artia Global Partners LP increased its position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 71.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 255,318 shares of the company's stock after purchasing an additional 106,728 shares during the quarter. Verona Pharma makes up approximately 4.2% of Artia Global Partners LP's investment portfolio, making the stock its 10th largest position. Artia Global Partners LP owned about 0.32% of Verona Pharma worth $11,857,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VRNA. Stifel Financial Corp purchased a new position in Verona Pharma in the 3rd quarter worth approximately $474,000. Sanctuary Advisors LLC acquired a new stake in shares of Verona Pharma in the third quarter valued at approximately $219,000. Franklin Resources Inc. purchased a new position in Verona Pharma during the third quarter worth approximately $16,103,000. GAMMA Investing LLC boosted its stake in Verona Pharma by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock worth $75,000 after buying an additional 276 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Verona Pharma by 24.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 193,707 shares of the company's stock valued at $8,996,000 after buying an additional 37,872 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

Verona Pharma Trading Up 1.7 %

NASDAQ VRNA traded up $1.21 on Friday, reaching $73.47. The stock had a trading volume of 854,015 shares, compared to its average volume of 1,263,240. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $62.89 and a two-hundred day moving average price of $51.63. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $74.18. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of -38.19 and a beta of 0.16.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $98.65 million during the quarter, compared to analysts' expectations of $41.47 million. As a group, sell-side analysts forecast that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Verona Pharma news, CEO David Zaccardelli sold 90,360 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total value of $811,432.80. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew Fisher sold 26,072 shares of the company's stock in a transaction 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 sale, the general counsel now directly owns 359,993 shares in the company, valued at $3,232,737.14. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,080 shares of company stock worth $2,194,582 over the last three months. Company insiders own 4.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VRNA shares. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research report on Friday, February 28th. TD Cowen began coverage on shares of Verona Pharma in a research note on Monday. They issued a "buy" rating and a $100.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday. Cowen initiated coverage on Verona Pharma in a research report on Monday. They issued a "buy" rating for the company. Finally, Roth Mkm started coverage on Verona Pharma in a research note on Friday, January 10th. They set a "buy" rating and a $68.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Verona Pharma currently has a consensus rating of "Buy" and an average target price of $81.50.

Verona Pharma Company 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.