Lazard Asset Management LLC Boosts Holdings in Verona Pharma plc (NASDAQ:VRNA)

Lazard Asset Management LLC raised its holdings in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 36.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,503 shares of the company's stock after acquiring 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 institutional investors and hedge funds have also bought and sold shares of VRNA. EMC Capital Management grew its position in Verona Pharma by 3,400.0% during the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after acquiring an additional 3,400 shares during the last quarter. Wrapmanager Inc. bought a new position in Verona Pharma during the fourth quarter valued at approximately $207,000. Transcend Capital Advisors LLC bought a new position in Verona Pharma during the fourth quarter valued at approximately $225,000. Raymond James Financial Inc. bought a new position in Verona Pharma during the fourth quarter valued at approximately $225,000. Finally, Choreo LLC bought a new position in Verona Pharma during the fourth quarter valued at approximately $230,000. 85.88% of the stock is currently owned by institutional investors.

Verona Pharma Trading Up 3.3%

NASDAQ:VRNA traded up $2.37 during trading hours on Friday, hitting $75.06. The company had a trading volume of 861,523 shares, compared to its average volume of 1,303,182. The company has a market capitalization of $6.09 billion, a PE ratio of -39.09 and a beta of 0.20. The stock has a 50-day moving average price of $64.57 and a 200 day moving average price of $55.68. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $75.60. 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 released its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.49. The company had revenue of $98.65 million during the quarter, compared to the consensus estimate of $41.47 million. On average, equities research analysts predict that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRNA shares. Roth Capital set a $83.00 target price on shares of Verona Pharma in a report on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. TD Cowen started coverage on shares of Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating and a $100.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Verona Pharma in a report on Monday, April 21st. They issued an "overweight" rating and a $80.00 target price on the stock. Finally, Cowen started coverage on shares of Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating on the stock. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $81.50.

Insider Activity at Verona Pharma

In other Verona Pharma news, Director Vikas Sinha sold 20,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $8.92, for a total transaction of $178,400.00. Following the completion of the transaction, the director now owns 74,440 shares of the company's stock, valued at approximately $664,004.80. This trade represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Zaccardelli sold 90,360 shares of the firm'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 transaction, the chief executive officer now directly owns 14,377,176 shares of the company's stock, valued at $129,107,040.48. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 365,064 shares of company stock worth $3,208,741 over the last quarter. Corporate insiders own 4.80% of the company's stock.

About Verona Pharma

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.