PFG Investments LLC Sells 7,100 Shares of Verona Pharma plc (NASDAQ:VRNA)

PFG Investments LLC decreased its stake in Verona Pharma plc (NASDAQ:VRNA) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,700 shares of the company’s stock after selling 7,100 shares during the period. PFG Investments LLC’s holdings in Verona Pharma were worth $1,379,000 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. Shilanski & Associates Inc. bought a new stake in shares of Verona Pharma in the fourth quarter valued at approximately $305,000. First Turn Management LLC bought a new stake in Verona Pharma during the 3rd quarter worth approximately $16,483,000. GSA Capital Partners LLP purchased a new stake in Verona Pharma in the 3rd quarter worth approximately $849,000. Wellington Management Group LLP boosted its holdings in Verona Pharma by 19.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock valued at $54,048,000 after purchasing an additional 307,272 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Verona Pharma during the 3rd quarter valued at $465,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Verona Pharma

In related news, CEO David Zaccardelli sold 162,800 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $5.01, for a total transaction of $815,628.00. Following the transaction, the chief executive officer now owns 14,204,752 shares in the company, valued at $71,165,807.52. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Hahn sold 12,936 shares of Verona Pharma stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $5.00, for a total value of $64,680.00. Following the completion of the sale, the chief financial officer now directly owns 14,276,000 shares of the company’s stock, valued at $71,380,000. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,225,592 shares of company stock worth $5,943,314 over the last quarter. 4.80% of the stock is currently owned by insiders.

Verona Pharma Stock Performance

Shares of NASDAQ:VRNA opened at $53.69 on Tuesday. 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 stock has a fifty day simple moving average of $44.17 and a two-hundred day simple moving average of $34.29. Verona Pharma plc has a 12-month low of $11.39 and a 12-month high of $55.91.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results on Monday, November 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The business had revenue of $5.62 million for the quarter, compared to analyst estimates of $2.31 million. During the same period in the previous year, the business earned ($0.18) earnings per share. As a group, equities research analysts expect that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group increased their price objective on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Capital raised Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Wells Fargo & Company boosted their price objective on Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $60.00 target price (up previously from $42.00) on shares of Verona Pharma in a research note on Tuesday, January 21st. Finally, Roth Mkm started coverage on shares of Verona Pharma in a research note on Friday, January 10th. They issued a “buy” rating and a $68.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $53.14.

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.