Findell Capital Management LLC Makes New Investment in Verona Pharma plc (NASDAQ:VRNA)

Findell Capital Management LLC bought a new stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 180,000 shares of the company's stock, valued at approximately $8,359,000. Verona Pharma makes up about 3.4% of Findell Capital Management LLC's portfolio, making the stock its 10th largest position. Findell Capital Management LLC owned about 0.23% of Verona Pharma as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock worth $75,000 after purchasing an additional 276 shares in the last quarter. EMC Capital Management grew its stake in Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock worth $163,000 after purchasing an additional 3,400 shares in the last quarter. Wrapmanager Inc. acquired a new position in Verona Pharma in the fourth quarter worth about $207,000. Transcend Capital Advisors LLC acquired a new position in Verona Pharma in the fourth quarter worth about $225,000. Finally, Raymond James Financial Inc. acquired a new position in Verona Pharma in the fourth quarter worth about $225,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Verona Pharma Stock Performance

Shares of VRNA traded down $2.90 during mid-day trading on Friday, reaching $63.36. 1,937,837 shares of the company's stock traded hands, compared to its average volume of 1,288,026. The business's 50-day moving average price is $63.25 and its 200-day moving average price is $53.31. The stock has a market capitalization of $5.14 billion, a P/E ratio of -33.00 and a beta of 0.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $74.18.

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 for the quarter, compared to the consensus estimate of $41.47 million. Equities analysts predict that Verona Pharma plc will post -1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VRNA shares. HC Wainwright lifted their price target on Verona Pharma from $75.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Canaccord Genuity Group raised their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. 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. Cowen assumed coverage on shares of Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating on the stock. Finally, Cantor Fitzgerald assumed 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. 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 has a consensus rating of "Buy" and an average target price of $81.50.

Insider Buying and Selling

In related news, insider Kathleen A. Rickard sold 79,264 shares of the business'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 $21,784,949.60. The trade was a 2.95% 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 stock was sold at an average price of $8.92, for a total value of $178,400.00. Following the sale, the director now directly owns 74,440 shares in the company, valued at approximately $664,004.80. The trade was a 21.18% 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 valued at $3,208,741 over the last quarter. Corporate insiders own 4.80% of the company's stock.

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.