US Bancorp DE Has $401,000 Stake in Verona Pharma plc (NASDAQ:VRNA)

US Bancorp DE decreased its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 60.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,627 shares of the company's stock after selling 13,328 shares during the quarter. US Bancorp DE's holdings in Verona Pharma were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of VRNA. GAMMA Investing LLC increased its position in Verona Pharma by 20.7% during the 4th 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 increased its position in Verona Pharma by 3,400.0% during the 4th 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. bought a new stake in Verona Pharma during the 4th quarter worth approximately $207,000. Transcend Capital Advisors LLC bought a new stake in shares of Verona Pharma in the 4th quarter valued at $225,000. Finally, Choreo LLC bought a new stake in shares of Verona Pharma in the 4th quarter valued at $230,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

VRNA has been the topic of several research analyst reports. Roth Mkm began coverage on shares of Verona Pharma in a research note on Friday, January 10th. They set a "buy" rating and a $68.00 target price on the stock. Truist Financial reiterated a "buy" rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research report on Friday, February 28th. Wells Fargo & Company increased 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. Finally, Canaccord Genuity Group raised their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $69.14.

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Verona Pharma Stock Performance

Shares of VRNA stock opened at $67.60 on Thursday. Verona Pharma plc has a one year low of $11.39 and a one year high of $70.40. The company's 50-day moving average is $58.14 and its 200 day moving average is $43.20. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of -35.21 and a beta of 0.39. 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 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.

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