Velan Capital Investment Management LP Acquires New Stake in Verona Pharma plc (NASDAQ:VRNA)

Velan Capital Investment Management LP bought a new stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company's stock, valued at approximately $2,322,000. Verona Pharma accounts for 2.0% of Velan Capital Investment Management LP's portfolio, making the stock its 11th biggest position. Velan Capital Investment Management LP owned 0.06% of Verona Pharma at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RTW Investments LP acquired a new position in Verona Pharma during the 4th quarter worth approximately $84,568,000. Wellington Management Group LLP lifted its position in shares of Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock worth $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in shares of Verona Pharma during the fourth quarter worth $37,637,000. Point72 Asset Management L.P. purchased a new position in Verona Pharma in the fourth quarter valued at $33,019,000. Finally, Janus Henderson Group PLC increased its holdings in Verona Pharma by 59.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock valued at $77,466,000 after buying an additional 624,370 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VRNA. Wells Fargo & Company lifted their target price on shares of Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. HC Wainwright boosted their target price on Verona Pharma from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Roth Capital set a $83.00 price target on Verona Pharma in a report on Friday, February 28th. Cantor Fitzgerald began coverage on Verona Pharma in a research note on Monday, April 21st. They issued an "overweight" rating and a $80.00 price target on the stock. Finally, Canaccord Genuity Group increased their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $81.50.

Verona Pharma Trading Up 2.6%

NASDAQ:VRNA opened at $71.31 on Monday. The company has a market cap of $5.78 billion, a PE ratio of -37.14 and a beta of 0.20. The business's 50 day moving average is $63.68 and its two-hundred day moving average is $54.53. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $74.18.

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 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. On average, analysts predict that Verona Pharma plc will post -1.95 EPS for the current year.

Insider Transactions at Verona Pharma

In related news, General Counsel Andrew Fisher sold 26,072 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total value of $234,126.56. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Zaccardelli sold 90,360 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total value of $811,432.80. Following the sale, the chief executive officer now directly owns 14,377,176 shares of the company's stock, valued at approximately $129,107,040.48. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 365,064 shares of company stock worth $3,208,741. Company insiders own 4.80% of the company's stock.

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.

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