Hennion & Walsh Asset Management Inc. grew its stake in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,473 shares of the company's stock after acquiring an additional 5,766 shares during the quarter. Verona Pharma comprises approximately 0.6% of Hennion & Walsh Asset Management Inc.'s investment portfolio, making the stock its 26th biggest position. Hennion & Walsh Asset Management Inc. owned about 0.25% of Verona Pharma worth $12,665,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Verona Pharma in the 1st quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Verona Pharma in the 4th quarter worth $46,000. GF Fund Management CO. LTD. acquired a new stake in shares of Verona Pharma in the 4th quarter worth $72,000. Wrapmanager Inc. acquired a new stake in shares of Verona Pharma in the 4th quarter worth $207,000. Finally, Transcend Capital Advisors LLC purchased a new position in shares of Verona Pharma during the 4th quarter worth $225,000. 85.88% of the stock is owned by institutional investors and hedge funds.
Verona Pharma Trading Down 1.4%
Verona Pharma stock traded down $1.20 during midday trading on Friday, reaching $84.34. 1,740,052 shares of the stock traded hands, compared to its average volume of 1,323,668. The company has a 50-day simple moving average of $67.77 and a two-hundred day simple moving average of $58.53. Verona Pharma plc has a 12-month low of $11.79 and a 12-month high of $86.59. The firm has a market cap of $6.84 billion, a PE ratio of -43.93 and a beta of 0.20. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. Research analysts expect that Verona Pharma plc will post -1.95 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on VRNA. Cantor Fitzgerald began coverage on Verona Pharma in a report on Monday, April 21st. They set an "overweight" rating and a $80.00 price target for the company. Wells Fargo & Company increased their price target on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. TD Cowen began coverage on Verona Pharma in a report on Monday, April 28th. They set a "buy" rating and a $100.00 price target for the company. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. Finally, HC Wainwright increased their price target on Verona Pharma from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Monday. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Verona Pharma has an average rating of "Buy" and an average price target of $82.13.
Check Out Our Latest Research Report on Verona Pharma
Insider Activity at Verona Pharma
In related news, insider Kathleen A. Rickard sold 79,264 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the transaction, the insider now directly owns 2,608,976 shares in the company, valued at $21,784,949.60. This trade represents a 2.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Hahn sold 32,432 shares of Verona Pharma stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $9.53, for a total value of $309,076.96. Following the completion of the transaction, the chief financial officer now owns 13,046,560 shares of the company's stock, valued at $124,333,716.80. The trade was a 0.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,165,064 shares of company stock worth $10,676,335 in the last three months. 4.80% of the stock is owned by company insiders.
Verona Pharma Profile
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Free Report)
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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