Jennison Associates LLC Has $31.52 Million Position in Verona Pharma plc (NASDAQ:VRNA)

Jennison Associates LLC raised its position in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,585,385 shares of the company's stock after buying an additional 142,819 shares during the period. Jennison Associates LLC owned 1.98% of Verona Pharma worth $31,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rathbones Group PLC boosted its position in Verona Pharma by 66.7% in the third quarter. Rathbones Group PLC now owns 15,976 shares of the company's stock valued at $260,000 after buying an additional 6,392 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Verona Pharma during the fourth quarter worth approximately $354,000. Legato Capital Management LLC lifted its position in shares of Verona Pharma by 26.1% during the fourth quarter. Legato Capital Management LLC now owns 24,329 shares of the company's stock worth $484,000 after purchasing an additional 5,032 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Verona Pharma during the third quarter worth approximately $422,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Verona Pharma during the third quarter worth approximately $815,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wedbush reissued an "outperform" rating and set a $33.00 price target on shares of Verona Pharma in a research note on Friday, March 1st. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of Verona Pharma in a research report on Monday, March 4th. Finally, Piper Sandler increased their price objective on shares of Verona Pharma from $31.00 to $36.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $33.60.

Verona Pharma Stock Up 0.5 %

Shares of VRNA stock traded up $0.07 during trading hours on Thursday, hitting $15.31. 499,479 shares of the company were exchanged, compared to its average volume of 496,485. The business has a 50 day moving average of $16.37 and a two-hundred day moving average of $16.09. The company has a current ratio of 33.33, a quick ratio of 33.33 and a debt-to-equity ratio of 0.20. Verona Pharma plc has a 52 week low of $11.83 and a 52 week high of $23.81. The company has a market capitalization of $1.21 billion, a PE ratio of -22.19 and a beta of 0.40.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.07. Analysts anticipate that Verona Pharma plc will post -1.32 earnings per share for the current fiscal year.

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.