EverSource Wealth Advisors LLC Acquires 5,964 Shares of Verona Pharma plc (NASDAQ:VRNA)

EverSource Wealth Advisors LLC grew its stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 3,074.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,158 shares of the company's stock after buying an additional 5,964 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Verona Pharma were worth $286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Investments Inc purchased a new position in Verona Pharma during the 3rd quarter valued at about $548,000. Crossmark Global Holdings Inc. purchased a new position in Verona Pharma during the 3rd quarter valued at about $465,000. GSA Capital Partners LLP purchased a new position in Verona Pharma during the 3rd quarter valued at about $849,000. Claro Advisors LLC purchased a new position in Verona Pharma during the 3rd quarter valued at about $209,000. Finally, First Turn Management LLC purchased a new position in Verona Pharma during the 3rd quarter valued at about $16,483,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma Stock Up 4.0 %

Shares of VRNA traded up $2.54 during mid-day trading on Wednesday, reaching $66.09. The company had a trading volume of 886,492 shares, compared to its average volume of 1,131,776. 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 firm has a 50-day moving average price of $59.50 and a 200 day moving average price of $44.37. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $70.40. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of -34.42 and a beta of 0.39.

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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 sale, the insider now directly owns 2,608,976 shares of the company's stock, valued at $21,784,949.60. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on VRNA shares. Canaccord Genuity Group boosted their price target on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Roth Mkm began coverage on Verona Pharma in a report on Friday, January 10th. They set a "buy" rating and a $68.00 price target on the stock. Roth Capital set a $83.00 price objective on Verona Pharma in a research report on Friday, February 28th. Truist Financial reaffirmed a "buy" rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Finally, HC Wainwright lifted their price objective on Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $69.14.

Verona Pharma 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.