Franklin Resources Inc. raised its holdings in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 791,104 shares of the company's stock after purchasing an additional 231,376 shares during the period. Franklin Resources Inc. owned approximately 0.99% of Verona Pharma worth $36,739,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in VRNA. Frazier Life Sciences Management L.P. raised its position in Verona Pharma by 2.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,383,950 shares of the company's stock worth $97,356,000 after acquiring an additional 69,601 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock valued at $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Jennison Associates LLC raised its stake in Verona Pharma by 8.5% during the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company's stock valued at $87,750,000 after purchasing an additional 148,656 shares in the last quarter. Prudential Financial Inc. lifted its position in Verona Pharma by 17.8% during the fourth quarter. Prudential Financial Inc. now owns 208,100 shares of the company's stock valued at $9,664,000 after purchasing an additional 31,432 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Verona Pharma by 24.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 193,707 shares of the company's stock worth $8,996,000 after buying an additional 37,872 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.
Verona Pharma Stock Down 7.7 %
NASDAQ:VRNA traded down $4.46 during trading hours on Thursday, reaching $53.45. The company's stock had a trading volume of 339,549 shares, compared to its average volume of 1,198,928. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The company has a market capitalization of $4.32 billion, a P/E ratio of -27.91 and a beta of 0.16. The stock has a 50 day moving average price of $62.75 and a two-hundred day moving average price of $48.18. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $70.40.
Insider Transactions at Verona Pharma
In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the sale, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company's stock.
Wall Street Analyst Weigh In
VRNA has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Roth Mkm assumed coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 target price for the company. Truist Financial reaffirmed a "buy" rating and issued a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Roth Capital set a $83.00 price target on shares of Verona Pharma in a report on Friday, February 28th. Finally, HC Wainwright boosted their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Six 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.com, the stock has an average rating of "Buy" and an average price target of $69.14.
Check Out Our Latest Analysis on Verona Pharma
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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