Verona Pharma plc (NASDAQ:VRNA) Shares Acquired by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC grew its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 626,452 shares of the company’s stock after purchasing an additional 31,063 shares during the quarter. Verona Pharma accounts for about 2.3% of Parkman Healthcare Partners LLC’s holdings, making the stock its 10th biggest holding. Parkman Healthcare Partners LLC’s holdings in Verona Pharma were worth $18,023,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. First Turn Management LLC purchased a new stake in Verona Pharma during the 3rd quarter valued at about $16,483,000. The Manufacturers Life Insurance Company purchased a new position in shares of Verona Pharma in the second quarter worth about $859,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Verona Pharma during the third quarter worth about $465,000. GSA Capital Partners LLP purchased a new stake in Verona Pharma in the third quarter valued at approximately $849,000. Finally, Rosalind Advisors Inc. increased its holdings in Verona Pharma by 10.0% in the 3rd quarter. Rosalind Advisors Inc. now owns 275,000 shares of the company’s stock worth $7,912,000 after buying an additional 25,000 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Trading Down 1.2 %

Shares of Verona Pharma stock opened at $38.66 on Wednesday. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $40.76. 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 50-day simple moving average of $35.03 and a two-hundred day simple moving average of $25.79.

Verona Pharma (NASDAQ:VRNA) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The business had revenue of $5.62 million during the quarter, compared to the consensus estimate of $2.31 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Equities research analysts forecast that Verona Pharma plc will post -2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VRNA shares. Canaccord Genuity Group upped their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of Verona Pharma from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Truist Financial increased their price target on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, HC Wainwright boosted their price objective on Verona Pharma from $36.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $43.83.

Insider Activity at Verona Pharma

In related news, CEO David Zaccardelli sold 98,888 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $5.01, for a total transaction of $495,428.88. Following the completion of the sale, the chief executive officer now directly owns 15,078,624 shares in the company, valued at approximately $75,543,906.24. The trade was a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Hahn sold 249,728 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $4.38, for a total value of $1,093,808.64. Following the completion of the transaction, the chief financial officer now directly owns 14,089,960 shares of the company’s stock, valued at approximately $61,714,024.80. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,622,112 shares of company stock valued at $7,383,768. 4.80% of the stock is owned by company insiders.

Verona Pharma Company 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.