New York State Common Retirement Fund Invests $285,000 in Verona Pharma plc (NASDAQ:VRNA)

New York State Common Retirement Fund acquired a new position in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,143 shares of the company's stock, valued at approximately $285,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Shilanski & Associates Inc. acquired a new position in Verona Pharma during the 4th quarter worth approximately $305,000. First Turn Management LLC acquired a new position in Verona Pharma during the third quarter worth $16,483,000. GSA Capital Partners LLP purchased a new position in Verona Pharma in the third quarter worth $849,000. Wellington Management Group LLP raised its position in Verona Pharma by 19.6% in the third quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company's stock worth $54,048,000 after acquiring an additional 307,272 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Verona Pharma in the third quarter valued at $465,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Verona Pharma Price Performance

VRNA traded down $1.02 during trading on Friday, reaching $64.65. 1,296,792 shares of the stock were exchanged, compared to its average volume of 1,550,756. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of -33.67 and a beta of 0.39. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $70.40. 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 business's 50 day moving average price is $57.11 and its two-hundred day moving average price is $42.43.

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Wall Street Analyst Weigh In

Several brokerages have commented on VRNA. Roth Capital upgraded shares of Verona Pharma to a "strong-buy" rating in a research report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Truist Financial restated a "buy" rating and set a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. HC Wainwright boosted their target price on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Roth Mkm started coverage on shares of Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $66.83.

About Verona Pharma

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.