Analysts Set Verona Pharma plc (NASDAQ:VRNA) Price Target at $66.83

Verona Pharma plc (NASDAQ:VRNA) has received an average recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $66.83.

A number of research analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Roth Capital raised shares of Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Truist Financial reissued a “buy” rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Roth Mkm assumed coverage on shares of Verona Pharma in a research note on Friday, January 10th. They issued a “buy” rating and a $68.00 target price on the stock. Finally, HC Wainwright upped their target price on shares of Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, February 28th.

Verona Pharma Stock Down 1.6 %

Shares of VRNA opened at $64.65 on Friday. The company has a 50-day simple moving average of $57.11 and a 200-day simple moving average of $42.43. The firm has a market capitalization of $5.23 billion, a P/E ratio of -33.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. Verona Pharma has a 52 week low of $11.39 and a 52 week high of $70.40.

Institutional Trading of Verona Pharma

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Verona Pharma by 20.7% during the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after buying an additional 276 shares during the last quarter. Diversify Advisory Services LLC grew its stake in Verona Pharma by 5.2% during the fourth quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company’s stock worth $279,000 after buying an additional 305 shares during the last quarter. Townsquare Capital LLC grew its stake in Verona Pharma by 1.9% during the fourth quarter. Townsquare Capital LLC now owns 17,958 shares of the company’s stock worth $834,000 after buying an additional 332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Verona Pharma by 25.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after buying an additional 529 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Verona Pharma by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 62,741 shares of the company’s stock worth $2,914,000 after buying an additional 660 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

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.