Jennison Associates LLC Grows Stock Holdings in Verona Pharma plc (NASDAQ:VRNA)

Jennison Associates LLC raised its position in shares of Verona Pharma plc (NASDAQ:VRNAFree Report) by 0.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,593,833 shares of the company’s stock after buying an additional 8,448 shares during the period. Jennison Associates LLC’s holdings in Verona Pharma were worth $25,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capstone Investment Advisors LLC purchased a new position in shares of Verona Pharma during the first quarter worth $412,000. BNP Paribas Financial Markets boosted its position in shares of Verona Pharma by 1,054.4% during the first quarter. BNP Paribas Financial Markets now owns 23,412 shares of the company’s stock worth $377,000 after buying an additional 21,384 shares during the period. Matisse Capital purchased a new position in shares of Verona Pharma during the first quarter worth $312,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Verona Pharma by 35.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 20,200 shares of the company’s stock worth $325,000 after buying an additional 5,322 shares during the period. Finally, Rice Hall James & Associates LLC boosted its position in shares of Verona Pharma by 44.1% during the first quarter. Rice Hall James & Associates LLC now owns 675,757 shares of the company’s stock worth $10,873,000 after buying an additional 206,828 shares during the period. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Verona Pharma Price Performance

VRNA stock opened at $17.04 on Wednesday. The business has a 50 day simple moving average of $14.16 and a 200-day simple moving average of $16.08. The company has a market capitalization of $1.35 billion, a P/E ratio of -22.13 and a beta of 0.44. Verona Pharma plc has a twelve month low of $11.39 and a twelve month high of $23.07. The company has a current ratio of 18.40, a quick ratio of 18.40 and a debt-to-equity ratio of 0.22.

Verona Pharma (NASDAQ:VRNAGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08). As a group, equities analysts anticipate that Verona Pharma plc will post -1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VRNA shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $35.00 target price on shares of Verona Pharma in a report on Thursday, June 27th. Piper Sandler increased their target price on Verona Pharma from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. HC Wainwright lifted their price target on Verona Pharma from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Truist Financial raised their target price on Verona Pharma from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $35.60.

View Our Latest Analysis on VRNA

Insider Transactions at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 36,248 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1.96, for a total transaction of $71,046.08. Following the completion of the sale, the insider now directly owns 2,621,552 shares of the company’s stock, valued at approximately $5,138,241.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.80% of the company’s stock.

About Verona Pharma

(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.

Further Reading

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Institutional Ownership by Quarter for Verona Pharma (NASDAQ:VRNA)

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