Caligan Partners LP Has $41.34 Million Stock Position in Verona Pharma plc (NASDAQ:VRNA)

Caligan Partners LP decreased its holdings in Verona Pharma plc (NASDAQ:VRNA) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,436,878 shares of the company’s stock after selling 406,878 shares during the period. Verona Pharma accounts for about 13.1% of Caligan Partners LP’s holdings, making the stock its 2nd biggest position. Caligan Partners LP’s holdings in Verona Pharma were worth $41,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Maverick Capital Ltd. boosted its holdings in Verona Pharma by 36.3% in the 3rd quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company’s stock worth $121,294,000 after buying an additional 1,123,166 shares during the period. Eventide Asset Management LLC boosted its holdings in shares of Verona Pharma by 359.6% in the third quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company’s stock worth $69,792,000 after acquiring an additional 1,898,065 shares during the period. Verition Fund Management LLC bought a new position in shares of Verona Pharma in the third quarter worth $494,000. Walleye Capital LLC purchased a new position in shares of Verona Pharma in the third quarter valued at $1,859,000. Finally, Townsquare Capital LLC bought a new stake in shares of Verona Pharma during the 3rd quarter valued at $507,000. Institutional investors own 85.88% of the company’s stock.

Verona Pharma Trading Down 0.7 %

Shares of Verona Pharma stock opened at $39.63 on Friday. The business has a 50 day moving average of $34.66 and a 200 day moving average of $25.35. Verona Pharma plc has a 52 week low of $11.39 and a 52 week high of $40.76. 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 (NASDAQ:VRNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The business had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. On average, equities research analysts predict that Verona Pharma plc will post -2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRNA. Canaccord Genuity Group raised their target price on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial upped their target price on shares of Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright raised their price target on shares of Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $43.83.

Insider Buying and Selling

In other news, insider Kathleen A. Rickard sold 240,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.90, for a total value of $1,176,000.00. Following the completion of the transaction, the insider now owns 2,671,480 shares of the company’s stock, valued at approximately $13,090,252. This represents a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David R. Ebsworth purchased 39,360 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were purchased at an average price of $4.80 per share, for a total transaction of $188,928.00. Following the completion of the transaction, the director now directly owns 920,003 shares of the company’s stock, valued at $4,416,014.40. This represents a 4.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,383,544 shares of company stock valued at $6,188,952 over the last three months. Corporate insiders own 4.80% of the company’s stock.

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.