Verona Pharma plc (NASDAQ:VRNA) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in shares of Verona Pharma plc (NASDAQ:VRNA) by 3,074.2% during the fourth quarter, HoldingsChannel reports. The fund owned 6,158 shares of the company’s stock after acquiring an additional 5,964 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Verona Pharma were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new stake in shares of Verona Pharma in the fourth quarter valued at approximately $284,000. Raymond James Financial Inc. acquired a new stake in Verona Pharma in the fourth quarter valued at $225,000. M&T Bank Corp purchased a new stake in shares of Verona Pharma during the 4th quarter worth $243,000. Keybank National Association OH acquired a new position in shares of Verona Pharma during the 4th quarter worth $300,000. Finally, Wrapmanager Inc. purchased a new position in shares of Verona Pharma in the 4th quarter valued at about $207,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now directly owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Verona Pharma Stock Performance

Shares of NASDAQ VRNA opened at $61.39 on Friday. The company has a 50-day simple moving average of $58.78 and a 200-day simple moving average of $43.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company has a market cap of $4.96 billion, a PE ratio of -31.97 and a beta of 0.39. Verona Pharma plc has a 12 month low of $11.39 and a 12 month high of $70.40.

Analysts Set New Price Targets

A number of research firms recently commented on VRNA. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a report on Friday, February 28th. Wells Fargo & Company upped their price target on Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Truist Financial reiterated a “buy” rating and set a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Canaccord Genuity Group raised their price target on Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Roth Mkm assumed coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $69.14.

Verona Pharma Company 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.