RFG Advisory LLC Acquires Shares of 23,238 Verona Pharma plc (NASDAQ:VRNA)

RFG Advisory LLC acquired a new position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,238 shares of the company's stock, valued at approximately $1,475,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Townsquare Capital LLC lifted its stake in shares of Verona Pharma by 1.9% during the fourth quarter. Townsquare Capital LLC now owns 17,958 shares of the company's stock valued at $834,000 after buying an additional 332 shares during the period. NBC Securities Inc. acquired a new position in shares of Verona Pharma in the 1st quarter worth approximately $34,000. Geode Capital Management LLC grew its position in shares of Verona Pharma by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company's stock valued at $2,914,000 after buying an additional 660 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Verona Pharma in the fourth quarter worth $46,000. Finally, GF Fund Management CO. LTD. bought a new position in Verona Pharma in the 4th quarter worth approximately $72,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Verona Pharma Stock Down 1.4%

Verona Pharma stock traded down $1.20 during midday trading on Friday, reaching $84.34. The stock had a trading volume of 1,740,052 shares, compared to its average volume of 1,320,523. Verona Pharma plc has a 12 month low of $11.79 and a 12 month high of $86.59. The company has a market capitalization of $6.84 billion, a P/E ratio of -43.93 and a beta of 0.20. The company has a fifty day moving average price of $67.26 and a two-hundred day moving average price of $58.21. 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 released its earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The business had revenue of $98.65 million for the quarter, compared to the consensus estimate of $41.47 million. As a group, equities analysts expect that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Cowen started coverage on Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating on the stock. Canaccord Genuity Group lifted their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. TD Cowen began coverage on shares of Verona Pharma in a research note on Monday, April 28th. They set a "buy" rating and a $100.00 price target on the stock. Roth Capital set a $83.00 target price on shares of Verona Pharma in a report on Friday, February 28th. Finally, HC Wainwright upped their price objective on Verona Pharma from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Monday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $82.13.

Insider Transactions at Verona Pharma

In related news, CEO David Zaccardelli sold 208,696 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $9.33, for a total transaction of $1,947,133.68. Following the transaction, the chief executive officer now owns 13,590,168 shares in the company, valued at $126,796,267.44. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vikas Sinha sold 20,000 shares of the business'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 transaction of $178,400.00. Following the sale, the director now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 1,165,064 shares of company stock worth $10,676,335. 4.80% of the stock is currently owned by 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.