Nicholas Investment Partners LP purchased a new position in Verona Pharma plc (NASDAQ:VRNA - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 154,814 shares of the company's stock, valued at approximately $7,190,000. Nicholas Investment Partners LP owned 0.19% of Verona Pharma at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in VRNA. EMC Capital Management grew its position in shares of Verona Pharma by 3,400.0% during the fourth quarter. EMC Capital Management now owns 3,500 shares of the company's stock worth $163,000 after buying an additional 3,400 shares in the last quarter. Wrapmanager Inc. purchased a new position in Verona Pharma during the fourth quarter worth about $207,000. Transcend Capital Advisors LLC purchased a new position in shares of Verona Pharma in the 4th quarter worth about $225,000. Raymond James Financial Inc. acquired a new stake in Verona Pharma during the 4th quarter valued at approximately $225,000. Finally, Choreo LLC acquired a new position in shares of Verona Pharma in the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 85.88% of the company's stock.
Analyst Ratings Changes
VRNA has been the subject of a number of research reports. Cowen initiated coverage on Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating for the company. Canaccord Genuity Group increased their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald assumed coverage on shares of Verona Pharma in a research report on Monday, April 21st. They set an "overweight" rating and a $80.00 price objective for the company. HC Wainwright boosted their price target on Verona Pharma from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Finally, Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $81.50.
Check Out Our Latest Analysis on Verona Pharma
Insider Activity at Verona Pharma
In other Verona Pharma news, insider Kathleen A. Rickard sold 114,984 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $8.82, for a total value of $1,014,158.88. Following the completion of the transaction, the insider now directly owns 2,546,472 shares in the company, valued at $22,459,883.04. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vikas Sinha sold 20,000 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.92, for a total value of $178,400.00. Following the completion of the sale, the director now owns 74,440 shares of the company's stock, valued at $664,004.80. This trade represents a 21.18% decrease in their ownership of the stock. 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 ninety days. 4.80% of the stock is currently owned by corporate insiders.
Verona Pharma Stock Performance
Verona Pharma stock traded up $0.48 during trading hours on Monday, reaching $71.79. 201,357 shares of the stock were exchanged, compared to its average volume of 1,288,874. The stock has a market cap of $5.82 billion, a P/E ratio of -37.54 and a beta of 0.20. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $74.18. The firm's 50 day moving average is $63.68 and its 200 day moving average is $54.53. 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 (NASDAQ:VRNA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analysts' expectations of $41.47 million. Analysts predict that Verona Pharma plc will post -1.95 EPS for the current fiscal year.
About Verona Pharma
(
Free Report)
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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