Allspring Global Investments Holdings LLC Takes $33.15 Million Position in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA)

Allspring Global Investments Holdings LLC purchased a new stake in Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 566,280 shares of the company's stock, valued at approximately $33,150,000. Allspring Global Investments Holdings LLC owned 0.70% of Verona Pharma PLC American Depositary Share at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. NBC Securities Inc. acquired a new stake in Verona Pharma PLC American Depositary Share during the first quarter worth approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in Verona Pharma PLC American Depositary Share during the fourth quarter worth approximately $46,000. GF Fund Management CO. LTD. acquired a new stake in Verona Pharma PLC American Depositary Share during the fourth quarter worth approximately $72,000. Avanza Fonder AB acquired a new stake in Verona Pharma PLC American Depositary Share during the first quarter worth approximately $100,000. Finally, GAMMA Investing LLC grew 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 worth $117,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on VRNA. TD Cowen started coverage on Verona Pharma PLC American Depositary Share in a research note on Monday, April 28th. They set a "buy" rating and a $100.00 target price for the company. Jefferies Financial Group increased their price target on Verona Pharma PLC American Depositary Share from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Cowen started coverage on Verona Pharma PLC American Depositary Share in a report on Monday, April 28th. They issued a "buy" rating on the stock. Roth Capital reiterated a "buy" rating and issued a $116.00 price target (up previously from $92.00) on shares of Verona Pharma PLC American Depositary Share in a report on Wednesday, June 18th. Finally, Wells Fargo & Company increased their price target on Verona Pharma PLC American Depositary Share from $107.00 to $138.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $101.10.

Insiders Place Their Bets

In related news, General Counsel Andrew Fisher sold 80,000 shares of Verona Pharma PLC American Depositary Share stock in a transaction on Monday, June 16th. The stock was sold at an average price of $11.53, for a total transaction of $922,400.00. Following the sale, the general counsel directly owned 359,999 shares in the company, valued at approximately $4,150,788.47. This trade represents a 18.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Zaccardelli sold 400,000 shares of Verona Pharma PLC American Depositary Share stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $11.40, for a total value of $4,560,000.00. Following the sale, the chief executive officer owned 13,190,168 shares in the company, valued at $150,367,915.20. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,965,800 shares of company stock valued at $20,056,881. 4.80% of the stock is owned by insiders.

Verona Pharma PLC American Depositary Share Stock Up 0.8%

VRNA stock opened at $94.58 on Tuesday. Verona Pharma PLC American Depositary Share has a twelve month low of $14.15 and a twelve month high of $99.01. The company has a quick ratio of 8.73, a current ratio of 8.86 and a debt-to-equity ratio of 1.07. The stock's 50 day moving average is $79.08 and its 200-day moving average is $64.71. The firm has a market capitalization of $8.05 billion, a PE ratio of -47.29 and a beta of 0.21.

Verona Pharma PLC American Depositary Share (NASDAQ:VRNA - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, beating 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. Sell-side analysts expect that Verona Pharma PLC American Depositary Share will post -1.95 EPS for the current fiscal year.

Verona Pharma PLC American Depositary Share 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.

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