Verona Pharma plc (NASDAQ:VRNA) Stake Lifted by Woodline Partners LP

Woodline Partners LP boosted its position in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516,605 shares of the company's stock after purchasing an additional 8,660 shares during the period. Woodline Partners LP owned approximately 0.65% of Verona Pharma worth $23,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Diversify Wealth Management LLC increased its position in Verona Pharma by 21.2% during the 4th quarter. Diversify Wealth Management LLC now owns 25,766 shares of the company's stock valued at $1,165,000 after purchasing an additional 4,512 shares during the period. Diversify Advisory Services LLC raised its stake in Verona Pharma by 5.2% in the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company's stock worth $279,000 after acquiring an additional 305 shares during the last quarter. Shilanski & Associates Inc. acquired a new stake in shares of Verona Pharma in the fourth quarter worth $305,000. EMC Capital Management lifted its holdings in shares of Verona Pharma by 3,400.0% in the 4th quarter. EMC Capital Management now owns 3,500 shares of the company's stock valued at $163,000 after buying an additional 3,400 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Verona Pharma by 8.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 22,848 shares of the company's stock worth $1,061,000 after purchasing an additional 1,807 shares during the period. Institutional investors own 85.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VRNA shares. HC Wainwright lifted their price objective on Verona Pharma from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Verona Pharma in a research report on Monday, April 21st. They set an "overweight" rating and a $80.00 price target on the stock. Roth Capital set a $83.00 price target on Verona Pharma in a research note on Friday, February 28th. Wells Fargo & Company increased their price objective on Verona Pharma from $93.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Cowen initiated coverage on Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating for the company. Eight research 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, Verona Pharma presently has an average rating of "Buy" and a consensus price target of $81.50.

Verona Pharma Price Performance

Shares of NASDAQ VRNA traded up $2.37 during trading on Friday, hitting $75.06. 861,523 shares of the company were exchanged, compared to its average volume of 1,299,649. Verona Pharma plc has a 1 year low of $11.39 and a 1 year 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. The company has a market cap of $6.09 billion, a price-to-earnings ratio of -39.09 and a beta of 0.20. The firm's fifty day moving average price is $64.34 and its 200 day moving average price is $55.30.

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

Insider Activity at Verona Pharma

In other 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 owns 359,993 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathleen A. Rickard sold 79,264 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total value of $661,854.40. Following the sale, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 365,064 shares of company stock worth $3,208,741. 4.80% of the stock is currently owned by 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.