Prudential Financial Inc. lifted its holdings in Verona Pharma plc (NASDAQ:VRNA - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,100 shares of the company's stock after acquiring an additional 31,432 shares during the period. Prudential Financial Inc. owned approximately 0.26% of Verona Pharma worth $9,664,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Verona Pharma by 77.0% in the third quarter. The Manufacturers Life Insurance Company now owns 105,159 shares of the company's stock worth $3,025,000 after purchasing an additional 45,741 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Verona Pharma by 176.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,211 shares of the company's stock valued at $1,732,000 after acquiring an additional 38,434 shares during the period. Townsquare Capital LLC bought a new position in Verona Pharma during the third quarter worth $507,000. Walleye Capital LLC acquired a new stake in Verona Pharma in the third quarter worth $1,859,000. Finally, Verition Fund Management LLC acquired a new stake in Verona Pharma in the third quarter worth $494,000. 85.88% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the stock. Truist Financial reissued a "buy" rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Roth Mkm initiated coverage on Verona Pharma in a research note on Friday, January 10th. They issued a "buy" rating and a $68.00 price objective for the company. Roth Capital set a $83.00 price objective on Verona Pharma in a report on Friday, February 28th. Wells Fargo & Company increased their target price on Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group boosted their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $69.14.
View Our Latest Report on Verona Pharma
Insider Transactions at Verona Pharma
In other news, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.80% of the company's stock.
Verona Pharma Stock Up 2.9 %
NASDAQ VRNA traded up $1.71 on Wednesday, reaching $60.25. The company had a trading volume of 736,354 shares, compared to its average volume of 1,158,429. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The company's fifty day moving average is $62.53 and its 200 day moving average is $46.93. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $70.40. The stock has a market capitalization of $4.87 billion, a P/E ratio of -31.44 and a beta of 0.39.
Verona Pharma Profile
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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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