Affinity Asset Advisors LLC Has $10.12 Million Stock Position in Verona Pharma plc (NASDAQ:VRNA)

Affinity Asset Advisors LLC decreased its position in Verona Pharma plc (NASDAQ:VRNA) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 700,000 shares of the company’s stock after selling 117,833 shares during the quarter. Verona Pharma makes up approximately 1.2% of Affinity Asset Advisors LLC’s portfolio, making the stock its 24th largest holding. Affinity Asset Advisors LLC’s holdings in Verona Pharma were worth $10,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of VRNA. CWM LLC bought a new position in Verona Pharma in the 2nd quarter worth $29,000. EMC Capital Management bought a new position in shares of Verona Pharma in the second quarter worth about $38,000. Cape Investment Advisory Inc. acquired a new position in shares of Verona Pharma during the 4th quarter worth about $40,000. Legato Capital Management LLC bought a new stake in Verona Pharma during the 2nd quarter valued at approximately $154,000. Finally, Marshall Wace LLP bought a new stake in Verona Pharma during the 2nd quarter valued at approximately $195,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma Price Performance

Shares of VRNA stock opened at $29.66 on Wednesday. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $30.73. The company has a market capitalization of $2.41 billion, a P/E ratio of -38.52 and a beta of 0.44. The stock has a 50 day moving average of $25.77 and a two-hundred day moving average of $18.96. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.72.

Verona Pharma (NASDAQ:VRNA) last issued 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 period in the previous year, the company earned ($0.11) earnings per share. As a group, equities analysts expect that Verona Pharma plc will post -2.07 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRNA. Canaccord Genuity Group upped their price target on Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price on shares of Verona Pharma in a research report on Tuesday, September 17th. Finally, Truist Financial increased their price target on shares of Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.00.

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.