Quarry LP Sells 3,500 Shares of Verona Pharma plc (NASDAQ:VRNA)

Quarry LP cut its position in Verona Pharma plc (NASDAQ:VRNA) by 63.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the company’s stock after selling 3,500 shares during the quarter. Quarry LP’s holdings in Verona Pharma were worth $29,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. NEA Management Company LLC grew its stake in shares of Verona Pharma by 9.3% in the second quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock worth $80,756,000 after purchasing an additional 476,190 shares during the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of Verona Pharma by 10.0% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,314,349 shares of the company’s stock valued at $47,925,000 after buying an additional 300,000 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Verona Pharma by 74.2% in the second quarter. Maverick Capital Ltd. now owns 3,092,807 shares of the company’s stock valued at $44,722,000 after buying an additional 1,316,998 shares during the period. Janus Henderson Group PLC raised its position in shares of Verona Pharma by 12.7% during the first quarter. Janus Henderson Group PLC now owns 2,031,994 shares of the company’s stock worth $32,657,000 after acquiring an additional 228,633 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Verona Pharma by 0.5% during the first quarter. Jennison Associates LLC now owns 1,593,833 shares of the company’s stock worth $25,645,000 after acquiring an additional 8,448 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

Verona Pharma Stock Up 0.1 %

Verona Pharma stock opened at $32.05 on Tuesday. The company has a market capitalization of $2.56 billion, a PE ratio of -41.62 and a beta of 0.44. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $32.88. The firm’s fifty day moving average is $26.86 and its 200 day moving average is $19.71. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data 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 quarter in the previous year, the business posted ($0.11) EPS. As a group, sell-side analysts predict that Verona Pharma plc will post -2.07 EPS for the current fiscal year.

Analyst Ratings Changes

VRNA has been the topic of several analyst reports. Truist Financial upped their target price on Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 28th. Canaccord Genuity Group upped their price objective on shares of Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company began coverage on shares of Verona Pharma in a research note on Thursday, October 3rd. They set an “overweight” rating and a $50.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $38.33.

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.