Verona Pharma plc (NASDAQ:VRNA) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its stake in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 199,473 shares of the company's stock after purchasing an additional 5,766 shares during the quarter. Verona Pharma comprises 0.6% of Hennion & Walsh Asset Management Inc.'s portfolio, making the stock its 26th biggest holding. Hennion & Walsh Asset Management Inc. owned about 0.25% of Verona Pharma worth $12,665,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its holdings in Verona Pharma by 8.5% during the 4th quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock valued at $87,750,000 after buying an additional 148,656 shares in the last quarter. Choreo LLC purchased a new stake in Verona Pharma during the fourth quarter worth $230,000. Legato Capital Management LLC boosted its position in Verona Pharma by 132.9% during the 4th quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock valued at $1,154,000 after acquiring an additional 14,183 shares in the last quarter. Values First Advisors Inc. grew its stake in Verona Pharma by 36.9% in the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company's stock valued at $1,092,000 after purchasing an additional 6,331 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Verona Pharma during the fourth quarter valued at about $285,000. Institutional investors own 85.88% of the company's stock.

Verona Pharma Trading Down 1.0%

Shares of NASDAQ:VRNA traded down $0.83 during midday trading on Wednesday, reaching $83.98. 1,321,048 shares of the company's stock were exchanged, compared to its average volume of 1,318,921. The firm's 50 day simple moving average is $66.39 and its two-hundred day simple moving average is $57.68. Verona Pharma plc has a fifty-two week low of $11.79 and a fifty-two week high of $86.73. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. 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 (NASDAQ:VRNA - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, topping 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. As a group, sell-side analysts forecast that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Insider Activity at Verona Pharma

In other news, General Counsel Andrew Fisher sold 26,072 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $234,126.56. Following the transaction, the general counsel now directly owns 359,993 shares in the company, valued at $3,232,737.14. The trade was a 6.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathleen A. Rickard sold 79,264 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was 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. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,165,064 shares of company stock valued at $10,676,335 over the last ninety days. Insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

VRNA has been the topic of several recent analyst reports. TD Cowen started coverage on Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating and a $100.00 target price on the stock. 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 research note on Wednesday, April 30th. Canaccord Genuity Group lifted their price target on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Cowen began coverage on shares of Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating for the company. Finally, HC Wainwright lifted their price target on Verona Pharma from $85.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $82.13.

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.