Federated Hermes Inc. Has $84.77 Million Stake in Verona Pharma plc (NASDAQ:VRNA)

Federated Hermes Inc. reduced its stake in shares of Verona Pharma plc (NASDAQ:VRNA) by 15.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,825,293 shares of the company’s stock after selling 342,607 shares during the quarter. Federated Hermes Inc.’s holdings in Verona Pharma were worth $84,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Shilanski & Associates Inc. acquired a new stake in shares of Verona Pharma during the 4th quarter worth about $305,000. Wellington Management Group LLP increased its holdings in shares of Verona Pharma by 19.6% during the third quarter. Wellington Management Group LLP now owns 1,878,632 shares of the company’s stock worth $54,048,000 after buying an additional 307,272 shares in the last quarter. Values First Advisors Inc. raised its stake in shares of Verona Pharma by 36.9% in the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company’s stock valued at $1,092,000 after acquiring an additional 6,331 shares during the last quarter. Choreo LLC acquired a new position in shares of Verona Pharma in the 4th quarter worth approximately $230,000. Finally, Legato Capital Management LLC grew its position in Verona Pharma by 132.9% during the 4th quarter. Legato Capital Management LLC now owns 24,853 shares of the company’s stock worth $1,154,000 after acquiring an additional 14,183 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

VRNA has been the subject of several research analyst reports. HC Wainwright lifted their price objective on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Roth Mkm started coverage on shares of Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 price target on the stock. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a report on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company upped their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $69.14.

Verona Pharma Stock Down 7.2 %

Shares of NASDAQ:VRNA opened at $53.90 on Monday. The company has a 50 day moving average of $62.70 and a 200-day moving average of $47.52. Verona Pharma plc has a one year low of $11.39 and a one year high of $70.40. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -28.07 and a beta of 0.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88.

Insiders Place Their Bets

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the firm’s 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 owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.80% of the company’s stock.

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.