26,057 Shares in Verona Pharma plc (NASDAQ:VRNA) Acquired by Hamilton Lane Advisors LLC

Hamilton Lane Advisors LLC acquired a new stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 26,057 shares of the company's stock, valued at approximately $1,654,000. Verona Pharma accounts for 1.4% of Hamilton Lane Advisors LLC's portfolio, making the stock its 7th largest holding.

A number of other hedge funds have also recently modified their holdings of the stock. RFG Advisory LLC acquired a new position in Verona Pharma during the first quarter worth $1,475,000. NBC Securities Inc. acquired a new stake in Verona Pharma during the 1st quarter worth $34,000. GAMMA Investing LLC grew its holdings in shares of Verona Pharma by 7,135.2% during the first quarter. GAMMA Investing LLC now owns 116,631 shares of the company's stock worth $7,405,000 after buying an additional 115,019 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in Verona Pharma in the 4th quarter worth approximately $479,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Verona Pharma in the 4th quarter worth $46,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on VRNA. Wells Fargo & Company raised their target price on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Cowen assumed coverage on shares of Verona Pharma in a research report on Monday, April 28th. They issued a "buy" rating for the company. Cantor Fitzgerald assumed coverage on Verona Pharma in a research report on Monday, April 21st. They set an "overweight" rating and a $80.00 price objective on the stock. TD Cowen initiated coverage on Verona Pharma in a research note on Monday, April 28th. They issued a "buy" rating and a $100.00 price objective on the stock. Finally, HC Wainwright increased their price target on Verona Pharma from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Monday. Eight 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 MarketBeat.com, Verona Pharma presently has an average rating of "Buy" and an average target price of $82.13.

Verona Pharma Stock Performance

Verona Pharma stock traded down $0.83 during midday trading on Wednesday, hitting $83.98. 1,321,048 shares of the company's stock were exchanged, compared to its average volume of 1,318,087. 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 cap of $6.81 billion, a price-to-earnings ratio of -43.74 and a beta of 0.20. Verona Pharma plc has a 12-month low of $11.79 and a 12-month high of $86.73. The firm's 50 day simple moving average is $66.39 and its 200 day simple moving average is $57.68.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 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 analysts' expectations of $41.47 million. Equities research analysts predict that Verona Pharma plc will post -1.95 EPS for the current year.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were 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 of the company's stock, valued at $21,784,949.60. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vikas Sinha sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total value of $178,400.00. Following the completion of the sale, the director now directly owns 74,440 shares in the company, valued at approximately $664,004.80. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,165,064 shares of company stock valued at $10,676,335. 4.80% of the stock is owned by corporate 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.