Prudential Financial Inc. Raises Position in Verona Pharma plc (NASDAQ:VRNA)

Prudential Financial Inc. increased its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 17.8% in the 4th quarter, HoldingsChannel reports. The firm owned 208,100 shares of the company’s stock after purchasing an additional 31,432 shares during the period. Prudential Financial Inc.’s holdings in Verona Pharma were worth $9,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. 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 during the period. EMC Capital Management grew its holdings in Verona Pharma by 3,400.0% during the fourth quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after acquiring an additional 3,400 shares during the period. Wrapmanager Inc. acquired a new position in Verona Pharma during the fourth quarter worth $207,000. Sanctuary Advisors LLC purchased a new position in Verona Pharma in the third quarter worth $219,000. Finally, Transcend Capital Advisors LLC acquired a new stake in Verona Pharma in the fourth quarter valued at $225,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the sale, the insider now owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VRNA shares. Truist Financial reaffirmed a “buy” rating and set a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Wells Fargo & Company increased their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, February 28th. HC Wainwright lifted their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Canaccord Genuity Group upped their price target on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Roth Mkm initiated coverage on Verona Pharma in a report on Friday, January 10th. They set a “buy” rating and a $68.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Verona Pharma currently has a consensus rating of “Buy” and an average target price of $69.14.

Verona Pharma Stock Down 2.8 %

VRNA stock opened at $62.70 on Friday. 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 company’s 50 day simple moving average is $62.20 and its 200-day simple moving average is $46.25. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $70.40. The firm has a market capitalization of $5.07 billion, a PE ratio of -32.66 and a beta of 0.39.

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.