Verona Pharma plc (NASDAQ:VRNA) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC grew its holdings in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 36.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,503 shares of the company's stock after purchasing an additional 9,267 shares during the period. Lazard Asset Management LLC's holdings in Verona Pharma were worth $1,602,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in shares of Verona Pharma by 61.0% during the fourth quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock valued at $140,492,000 after purchasing an additional 1,146,609 shares during the period. Jennison Associates LLC grew its holdings in Verona Pharma by 8.5% during the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock worth $87,750,000 after acquiring an additional 148,656 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Verona Pharma by 37.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,833,532 shares of the company's stock worth $85,150,000 after acquiring an additional 498,338 shares during the period. Janus Henderson Group PLC grew its holdings in Verona Pharma by 59.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company's stock worth $77,466,000 after acquiring an additional 624,370 shares during the period. Finally, Hood River Capital Management LLC grew its holdings in Verona Pharma by 3.6% during the fourth quarter. Hood River Capital Management LLC now owns 1,485,256 shares of the company's stock worth $68,975,000 after acquiring an additional 51,322 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

Verona Pharma Stock Performance

Shares of VRNA opened at $71.31 on Monday. Verona Pharma plc has a one year low of $11.39 and a one year high of $74.18. The company has a 50-day moving average of $63.68 and a two-hundred day moving average of $54.53. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of -37.14 and a beta of 0.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

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, topping the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million during the quarter, compared to analyst estimates of $41.47 million. On average, equities research analysts expect that Verona Pharma plc will post -1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

VRNA has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Verona Pharma in a report on Monday, April 21st. They set an "overweight" rating and a $80.00 target price on the stock. Cowen initiated coverage on Verona Pharma in a report on Monday, April 28th. They set a "buy" rating on the stock. Wells Fargo & Company lifted their target price on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Canaccord Genuity Group lifted their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $81.50.

Insiders Place Their Bets

In related news, General Counsel Andrew Fisher sold 26,072 shares of the firm'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 transaction of $234,126.56. Following the completion of the sale, the general counsel now directly owns 359,993 shares in the company, valued at approximately $3,232,737.14. This trade represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kathleen A. Rickard sold 79,264 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. This 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 365,064 shares of company stock worth $3,208,741 over the last ninety days. 4.80% of the stock is currently owned by company insiders.

Verona Pharma 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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