Jennison Associates LLC Buys 8,448 Shares of Verona Pharma plc (NASDAQ:VRNA)

Jennison Associates LLC grew its stake in shares of Verona Pharma plc (NASDAQ:VRNAFree Report) by 0.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,593,833 shares of the company’s stock after purchasing an additional 8,448 shares during the period. Jennison Associates LLC owned about 1.97% of Verona Pharma worth $25,645,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRNA. First Turn Management LLC bought a new position in shares of Verona Pharma in the fourth quarter valued at approximately $23,981,000. Eventide Asset Management LLC grew its holdings in Verona Pharma by 62.1% during the fourth quarter. Eventide Asset Management LLC now owns 1,377,781 shares of the company’s stock valued at $27,390,000 after purchasing an additional 527,781 shares during the period. American Century Companies Inc. bought a new position in Verona Pharma during the third quarter valued at $4,566,000. Clearbridge Investments LLC bought a new position in Verona Pharma during the fourth quarter valued at $4,949,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Verona Pharma by 95.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 426,931 shares of the company’s stock valued at $6,959,000 after purchasing an additional 208,100 shares during the period. 85.88% of the stock is owned by institutional investors.

Verona Pharma Trading Up 0.2 %

Shares of VRNA stock opened at $17.04 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 18.40 and a current ratio of 18.40. Verona Pharma plc has a 52-week low of $11.39 and a 52-week high of $23.07. The company has a market capitalization of $1.35 billion, a PE ratio of -22.13 and a beta of 0.44. The business’s fifty day moving average is $14.16 and its 200 day moving average is $16.08.

Verona Pharma (NASDAQ:VRNAGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.08). On average, equities research analysts anticipate that Verona Pharma plc will post -1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $35.00 price objective 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 stock an “overweight” rating in a research report on Tuesday, April 16th. HC Wainwright increased their target price on Verona Pharma from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Truist Financial increased 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Verona Pharma has a consensus rating of “Buy” and a consensus target price of $35.60.

View Our Latest Report on VRNA

Insider Activity

In related news, insider Kathleen A. Rickard sold 36,248 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,138,241.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.80% of the company’s stock.

Verona Pharma 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.

Further Reading

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

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