Verona Pharma (NASDAQ:VRNA) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Verona Pharma (NASDAQ:VRNA) in a report published on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $50.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Verona Pharma from $35.00 to $37.00 and gave the company a buy rating in a report on Monday, July 22nd. HC Wainwright reissued a buy rating and issued a $36.00 price target on shares of Verona Pharma in a report on Tuesday, October 1st. Finally, Truist Financial upped their price target on shares of Verona Pharma from $32.00 to $38.00 and gave the company a buy rating in a report on Friday, June 28th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $38.33.

Verona Pharma Stock Performance

VRNA stock opened at $32.01 on Thursday. The company has a market capitalization of $2.56 billion, a P/E ratio of -41.57 and a beta of 0.44. The company has a 50-day simple moving average of $26.86 and a 200 day simple moving average of $19.68. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $32.88. 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 for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period last year, the business earned ($0.11) EPS. Sell-side analysts predict that Verona Pharma will post -2.07 earnings per share for the current fiscal year.

Institutional Trading of Verona Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC raised its holdings in Verona Pharma by 1.7% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock worth $1,011,000 after buying an additional 862 shares during the period. CWM LLC acquired a new position in shares of Verona Pharma in the 2nd quarter valued at about $29,000. EMC Capital Management acquired a new position in shares of Verona Pharma in the 2nd quarter valued at about $38,000. Sei Investments Co. increased its holdings 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 purchasing an additional 2,640 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings 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 purchasing an additional 5,322 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

About Verona Pharma

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.