Ameriprise Financial Inc. Makes New $5.44 Million Investment in Verona Pharma plc (NASDAQ:VRNA)

Ameriprise Financial Inc. purchased a new stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 117,100 shares of the company's stock, valued at approximately $5,438,000. Ameriprise Financial Inc. owned 0.15% of Verona Pharma at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. EMC Capital Management increased its stake in shares of Verona Pharma by 3,400.0% in the 4th quarter. EMC Capital Management now owns 3,500 shares of the company's stock worth $163,000 after purchasing an additional 3,400 shares in the last quarter. Wrapmanager Inc. purchased a new stake in shares of Verona Pharma in the 4th quarter worth $207,000. Transcend Capital Advisors LLC purchased a new stake in shares of Verona Pharma in the 4th quarter worth $225,000. Raymond James Financial Inc. purchased a new stake in shares of Verona Pharma in the 4th quarter worth $225,000. Finally, Choreo LLC purchased a new stake in shares of Verona Pharma in the 4th quarter worth $230,000. 85.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Roth Capital set a $83.00 price objective on Verona Pharma in a research note on Friday, February 28th. Canaccord Genuity Group raised their price objective on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald initiated coverage on Verona Pharma in a research report on Monday, April 21st. They set an "overweight" rating and a $80.00 price objective for the company. Wells Fargo & Company raised their price objective on Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, TD Cowen assumed coverage on shares of Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating and a $100.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $81.50.

Verona Pharma Trading Down 2.9%

NASDAQ VRNA traded down $2.20 during trading on Wednesday, hitting $73.42. The stock had a trading volume of 462,101 shares, compared to its average volume of 1,299,244. 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 has a market capitalization of $5.95 billion, a price-to-earnings ratio of -38.35 and a beta of 0.20. Verona Pharma plc has a one year low of $11.39 and a one year high of $76.92. The stock has a 50 day simple moving average of $64.94 and a 200 day simple moving average of $56.19.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. Sell-side analysts predict that Verona Pharma plc will post -1.95 earnings per share for the current year.

Insider Transactions at Verona Pharma

In related news, Director Vikas Sinha sold 20,000 shares of Verona Pharma stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total transaction of $178,400.00. Following the transaction, the director now directly owns 74,440 shares of the company's stock, valued at $664,004.80. This trade represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now directly owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 365,064 shares of company stock valued at $3,208,741. 4.80% of the stock is currently owned by company insiders.

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.