Renaissance Technologies LLC Buys New Stake in Verona Pharma plc (NASDAQ:VRNA)

Renaissance Technologies LLC acquired a new stake in Verona Pharma plc (NASDAQ:VRNA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,044 shares of the company’s stock, valued at approximately $449,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC purchased a new stake in shares of Verona Pharma during the 2nd quarter valued at about $29,000. EMC Capital Management acquired a new position in shares of Verona Pharma during the second quarter worth $38,000. Legato Capital Management LLC purchased a new position in shares of Verona Pharma in the second quarter valued at $154,000. Verus Capital Partners LLC acquired a new stake in Verona Pharma during the 2nd quarter valued at $251,000. Finally, Matisse Capital purchased a new stake in Verona Pharma during the 1st quarter worth $312,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

Analysts Set New Price Targets

VRNA has been the subject of several recent analyst reports. Wells Fargo & Company started coverage on Verona Pharma in a research note on Thursday, October 3rd. They set an “overweight” rating and a $50.00 target price for the company. Canaccord Genuity Group lifted their price objective on Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Truist Financial increased their target price on Verona Pharma from $38.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $36.00 price target on shares of Verona Pharma in a research note on Tuesday, October 1st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $39.33.

Verona Pharma Stock Down 1.2 %

VRNA stock opened at $31.37 on Friday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -40.74 and a beta of 0.44. Verona Pharma plc has a 1-year low of $11.39 and a 1-year high of $32.88. The firm has a fifty day moving average price of $27.42 and a two-hundred day moving average price of $20.01. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same quarter in the prior year, the company earned ($0.11) earnings per share. Research analysts predict that Verona Pharma plc will post -2.07 EPS for the current year.

Verona Pharma 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.