Castleark Management LLC Buys Shares of 185,860 Verona Pharma plc (NASDAQ:VRNA)

Castleark Management LLC acquired a new position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 185,860 shares of the company's stock, valued at approximately $8,631,000. Castleark Management LLC owned about 0.23% of Verona Pharma as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Diversify Wealth Management LLC grew its holdings in Verona Pharma by 21.2% in the fourth quarter. Diversify Wealth Management LLC now owns 25,766 shares of the company's stock valued at $1,165,000 after purchasing an additional 4,512 shares during the period. Diversify Advisory Services LLC lifted its position in shares of Verona Pharma by 5.2% during the fourth quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock worth $279,000 after purchasing an additional 305 shares in the last quarter. Shilanski & Associates Inc. purchased a new position in Verona Pharma in the fourth quarter valued at about $305,000. EMC Capital Management boosted its holdings in Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after purchasing an additional 3,400 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its stake in Verona Pharma by 8.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company's stock valued at $1,061,000 after purchasing an additional 1,807 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

Insider Buying and Selling

In related news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. This trade represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew Fisher sold 26,072 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $8.98, for a total transaction of $234,126.56. Following the completion of the transaction, the general counsel now owns 359,993 shares of the company's stock, valued at approximately $3,232,737.14. The trade was a 6.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 365,064 shares of company stock worth $3,208,741. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

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

Verona Pharma Price Performance

Shares of NASDAQ VRNA traded up $2.37 during mid-day trading on Friday, reaching $75.06. 861,523 shares of the company traded hands, compared to its average volume of 1,299,649. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $75.60. The firm has a market cap of $6.09 billion, a PE ratio of -39.09 and a beta of 0.20. The stock has a fifty day simple moving average of $64.57 and a 200-day simple moving average of $55.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

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 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 analyst estimates of $41.47 million. Equities research analysts anticipate that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

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.