Frazier Life Sciences Management L.P. Has $47.93 Million Stock Holdings in Verona Pharma plc (NASDAQ:VRNA)

Frazier Life Sciences Management L.P. raised its stake in Verona Pharma plc (NASDAQ:VRNA) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,314,349 shares of the company’s stock after buying an additional 300,000 shares during the quarter. Verona Pharma accounts for about 2.2% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 13th biggest position. Frazier Life Sciences Management L.P. owned approximately 4.10% of Verona Pharma worth $47,925,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new position in Verona Pharma in the 2nd quarter valued at approximately $859,000. Millennium Management LLC increased its stake in Verona Pharma by 4.7% in the 2nd quarter. Millennium Management LLC now owns 527,640 shares of the company’s stock valued at $7,630,000 after buying an additional 23,567 shares during the period. Maverick Capital Ltd. increased its stake in Verona Pharma by 74.2% in the 2nd 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. Alerce Investment Management L.P. acquired a new position in Verona Pharma in the 2nd quarter valued at approximately $3,080,000. Finally, NEA Management Company LLC increased its stake in Verona Pharma by 9.3% in the 2nd quarter. NEA Management Company LLC now owns 5,584,753 shares of the company’s stock valued at $80,756,000 after buying an additional 476,190 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Stock Performance

Shares of VRNA opened at $28.76 on Friday. The company’s fifty day moving average is $26.10 and its 200-day moving average is $19.17. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $30.73. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -37.35 and a beta of 0.44. 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 posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period last year, the company earned ($0.11) EPS. Equities analysts expect that Verona Pharma plc will post -2.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRNA. Truist Financial upped their price objective on shares of Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Canaccord Genuity Group increased their price target on shares of Verona Pharma from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a research note on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $36.00.

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.