Verona Pharma (NASDAQ:VRNA) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Verona Pharma (NASDAQ:VRNA) in a research report sent to investors on Tuesday, Benzinga reports. The firm currently has a $36.00 price target on the stock.

Other analysts have also issued research reports about the company. Canaccord Genuity Group increased their price objective on Verona Pharma from $35.00 to $37.00 and gave the company a buy rating in a report on Monday, July 22nd. Truist Financial increased their price objective on Verona Pharma from $32.00 to $38.00 and gave the company a buy rating in a report on Friday, June 28th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Verona Pharma has a consensus rating of Buy and an average price target of $38.33.

Verona Pharma Stock Up 3.9 %

Verona Pharma stock opened at $32.01 on Tuesday. The business has a fifty day moving average of $26.86 and a two-hundred day moving average of $19.65. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.60 billion, a P/E ratio of -41.57 and a beta of 0.44. Verona Pharma has a twelve month low of $11.39 and a twelve month high of $32.88.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same period in the prior year, the firm posted ($0.11) earnings per share. On average, analysts forecast that Verona Pharma will post -2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verona Pharma

Several hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC increased its position in shares of Verona Pharma by 1.7% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock valued at $1,011,000 after acquiring an additional 862 shares during the period. CWM LLC acquired a new position in shares of Verona Pharma in the 2nd quarter valued at $29,000. EMC Capital Management acquired a new position in shares of Verona Pharma in the 2nd quarter valued at $38,000. Sei Investments Co. increased its position in shares of Verona Pharma by 3.7% in the 1st quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock valued at $1,195,000 after acquiring an additional 2,640 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Verona Pharma by 35.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,200 shares of the company’s stock valued at $325,000 after acquiring an additional 5,322 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

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.