Verona Pharma plc (NASDAQ:VRNA) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its position in Verona Pharma plc (NASDAQ:VRNA) by 17.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,100 shares of the company’s stock after purchasing an additional 31,432 shares during the quarter. Prudential Financial Inc. owned approximately 0.26% of Verona Pharma worth $9,664,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC increased its holdings in Verona Pharma by 108.1% in the fourth quarter. LPL Financial LLC now owns 30,033 shares of the company’s stock valued at $1,395,000 after buying an additional 15,598 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Verona Pharma by 387.1% during the 4th quarter. HBK Sorce Advisory LLC now owns 35,814 shares of the company’s stock worth $1,663,000 after acquiring an additional 28,461 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Verona Pharma by 3,074.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 6,158 shares of the company’s stock valued at $286,000 after acquiring an additional 5,964 shares during the last quarter. Personal CFO Solutions LLC acquired a new stake in shares of Verona Pharma during the 4th quarter worth about $284,000. Finally, Raymond James Financial Inc. purchased a new stake in Verona Pharma during the fourth quarter worth approximately $225,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction that occurred on 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 directly owns 2,608,976 shares of the company’s stock, valued at approximately $21,784,949.60. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Verona Pharma Trading Down 2.8 %

Shares of Verona Pharma stock opened at $62.70 on Friday. 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 company has a market capitalization of $5.07 billion, a P/E ratio of -32.66 and a beta of 0.39. Verona Pharma plc has a 1 year low of $11.39 and a 1 year high of $70.40. The company’s fifty day moving average is $62.20 and its two-hundred day moving average is $46.25.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VRNA shares. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research note on Friday, February 28th. HC Wainwright increased their target price 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. Wells Fargo & Company boosted their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. 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 on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Six investment 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, Verona Pharma currently has a consensus rating of “Buy” and an average price target of $69.14.

About Verona Pharma

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.