Hennion & Walsh Asset Management Inc. Grows Stake in Verona Pharma plc (NASDAQ:VRNA)

Hennion & Walsh Asset Management Inc. raised its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,835 shares of the company’s stock after purchasing an additional 20,206 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.19% of Verona Pharma worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. CWM LLC bought a new stake in Verona Pharma in the second quarter worth about $29,000. EMC Capital Management purchased a new position in Verona Pharma during the 2nd quarter valued at $38,000. GAMMA Investing LLC increased its stake in Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after purchasing an additional 553 shares during the period. Legato Capital Management LLC bought a new stake in shares of Verona Pharma during the second quarter worth $154,000. Finally, Marshall Wace LLP purchased a new stake in shares of Verona Pharma during the second quarter valued at $195,000. 85.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRNA. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of Verona Pharma in a report on Tuesday, October 1st. Canaccord Genuity Group boosted their price target on Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Truist Financial raised their price objective on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company began coverage on Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 target price for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $39.33.

Insider Buying and Selling

In other Verona Pharma news, CEO David Zaccardelli sold 110,456 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $4.38, for a total transaction of $483,797.28. Following the sale, the chief executive officer now owns 14,894,464 shares in the company, valued at approximately $65,237,752.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark W. Hahn sold 116,696 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $4.38, for a total value of $511,128.48. Following the sale, the chief financial officer now owns 13,973,264 shares in the company, valued at $61,202,896.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Zaccardelli sold 110,456 shares of Verona Pharma stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $4.38, for a total value of $483,797.28. Following the transaction, the chief executive officer now owns 14,894,464 shares of the company’s stock, valued at approximately $65,237,752.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 722,664 shares of company stock worth $3,165,268 in the last 90 days. Insiders own 4.80% of the company’s stock.

Verona Pharma Stock Up 0.2 %

NASDAQ:VRNA opened at $34.93 on Thursday. The company’s 50-day simple moving average is $29.69 and its 200-day simple moving average is $21.26. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $35.62.

Verona Pharma (NASDAQ:VRNA) last announced its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period in the previous year, the firm posted ($0.11) earnings per share. On average, equities analysts forecast that Verona Pharma plc will post -2.07 EPS for the current year.

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.