BNP Paribas Financial Markets decreased its stake in shares of Verona Pharma plc (NASDAQ:VRNA - Free Report) by 73.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,740 shares of the company's stock after selling 44,471 shares during the period. BNP Paribas Financial Markets' holdings in Verona Pharma were worth $731,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Ameriprise Financial Inc. purchased a new stake in Verona Pharma in the fourth quarter worth about $5,438,000. Schonfeld Strategic Advisors LLC lifted its position in Verona Pharma by 288.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 79,400 shares of the company's stock valued at $3,687,000 after purchasing an additional 58,978 shares during the period. Darwin Global Management Ltd. bought a new position in Verona Pharma during the fourth quarter valued at approximately $37,637,000. AdvisorShares Investments LLC bought a new position in Verona Pharma during the fourth quarter valued at approximately $838,000. Finally, Northern Trust Corp bought a new position in Verona Pharma during the fourth quarter valued at approximately $362,000. Institutional investors own 85.88% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on VRNA shares. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a research report on Friday, February 28th. TD Cowen began coverage on Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating and a $100.00 target price on the stock. Cowen started coverage on Verona Pharma in a report on Monday, April 28th. They issued a "buy" rating on the stock. Cantor Fitzgerald initiated coverage on shares of Verona Pharma in a research report on Monday, April 21st. They issued an "overweight" rating and a $80.00 price target on the stock. Finally, Canaccord Genuity Group increased their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $81.50.
View Our Latest Stock Analysis on VRNA
Verona Pharma Stock Down 0.9%
Shares of VRNA traded down $0.71 during mid-day trading on Wednesday, hitting $74.91. The company's stock had a trading volume of 36,710 shares, compared to its average volume of 1,437,846. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of -39.01 and a beta of 0.20. The company's 50-day moving average is $64.94 and its 200-day moving average is $56.19. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $76.92.
Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.49. The firm had revenue of $98.65 million for the quarter, compared to analyst estimates of $41.47 million. On average, equities research analysts forecast that Verona Pharma plc will post -1.95 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO David Zaccardelli sold 90,360 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total value of $811,432.80. Following the sale, the chief executive officer now directly owns 14,377,176 shares of the company's stock, valued at approximately $129,107,040.48. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen A. Rickard sold 79,264 shares of the firm's 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 sale, the insider now directly owns 2,608,976 shares in the company, valued at $21,784,949.60. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 365,064 shares of company stock valued at $3,208,741 in the last ninety days. Company insiders own 4.80% of the company's stock.
Verona Pharma Company Profile
(
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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