117,100 Shares in Verona Pharma plc (NASDAQ:VRNA) Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. bought a new position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 117,100 shares of the company's stock, valued at approximately $5,438,000. Ameriprise Financial Inc. owned approximately 0.15% of Verona Pharma at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Verona Pharma by 61.0% during the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after acquiring an additional 1,146,609 shares in the last quarter. Jennison Associates LLC lifted its holdings in Verona Pharma by 8.5% during the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock worth $87,750,000 after acquiring an additional 148,656 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Verona Pharma by 37.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,833,532 shares of the company's stock worth $85,150,000 after acquiring an additional 498,338 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in Verona Pharma by 3.6% during the fourth quarter. Hood River Capital Management LLC now owns 1,485,256 shares of the company's stock worth $68,975,000 after acquiring an additional 51,322 shares in the last quarter. Finally, Darwin Global Management Ltd. bought a new position in Verona Pharma during the fourth quarter worth about $37,637,000. 85.88% of the stock is currently owned by institutional investors.

Verona Pharma Stock Up 4.8%

VRNA traded up $3.56 on Thursday, hitting $77.49. 1,457,727 shares of the company were exchanged, compared to its average volume of 1,303,959. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $77.98. The company has a market cap of $6.28 billion, a PE ratio of -40.36 and a beta of 0.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The stock's fifty day moving average is $65.29 and its 200-day moving average is $56.58.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. Equities research analysts predict that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

VRNA has been the topic of a number of research reports. TD Cowen initiated coverage on Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating and a $100.00 price target on the stock. Cantor Fitzgerald initiated coverage on Verona Pharma in a report on Monday, April 21st. They issued an "overweight" rating and a $80.00 price target on the stock. HC Wainwright boosted their price target on Verona Pharma from $75.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price target on Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $81.50.

Insider Buying and Selling

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the sale, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. This represents a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Zaccardelli sold 208,696 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $9.33, for a total value of $1,947,133.68. Following the completion of the sale, the chief executive officer now owns 13,590,168 shares in the company, valued at $126,796,267.44. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,165,064 shares of company stock worth $10,676,335. Corporate insiders own 4.80% of the company's stock.

Verona Pharma 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.