Hennion & Walsh Asset Management Inc. Purchases 28,071 Shares of Verona Pharma plc (NASDAQ:VRNA)

Hennion & Walsh Asset Management Inc. increased its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 71.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,365 shares of the company’s stock after buying an additional 28,071 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Verona Pharma were worth $1,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new position in Verona Pharma during the 4th quarter worth $40,000. Tower Research Capital LLC TRC increased its stake in shares of Verona Pharma by 950.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company’s stock worth $89,000 after purchasing an additional 4,067 shares during the period. Jump Financial LLC acquired a new position in shares of Verona Pharma during the 4th quarter worth about $226,000. PFG Investments LLC bought a new stake in Verona Pharma during the 4th quarter valued at approximately $354,000. Finally, Legato Capital Management LLC grew its holdings in Verona Pharma by 26.1% in the 4th quarter. Legato Capital Management LLC now owns 24,329 shares of the company’s stock valued at $484,000 after buying an additional 5,032 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kathleen A. Rickard sold 36,248 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1.96, for a total value of $71,046.08. Following the completion of the transaction, the insider now owns 2,621,552 shares of the company’s stock, valued at $5,138,241.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

VRNA has been the subject of a number of research analyst reports. HC Wainwright upped their price target on Verona Pharma from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $35.00 target price on shares of Verona Pharma in a research note on Thursday. Piper Sandler raised their price target on shares of Verona Pharma from $31.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Finally, Truist Financial boosted their price objective on shares of Verona Pharma from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Verona Pharma currently has an average rating of “Buy” and a consensus target price of $35.60.

Verona Pharma Stock Down 6.3 %

VRNA opened at $14.46 on Monday. The stock’s 50 day simple moving average is $14.07 and its 200-day simple moving average is $16.13. 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 1 year low of $11.39 and a 1 year high of $23.07.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.08). On average, analysts expect that Verona Pharma plc will post -1.54 earnings per share for the current fiscal year.

About Verona Pharma

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.