Verona Pharma plc (NASDAQ:VRNA) Receives $36.00 Average Price Target from Analysts

Shares of Verona Pharma plc (NASDAQ:VRNA) have been assigned an average rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.33.

A number of research firms recently weighed in on VRNA. Canaccord Genuity Group lifted their price target on Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. HC Wainwright restated a “buy” rating and set a $36.00 target price on shares of Verona Pharma in a research report on Tuesday, October 1st. Wells Fargo & Company began coverage on shares of Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of Verona Pharma from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 28th.

Institutional Investors Weigh In On Verona Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after acquiring an additional 553 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in 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 last quarter. CWM LLC acquired a new stake in shares of Verona Pharma during the second quarter worth $29,000. EMC Capital Management purchased a new stake in shares of Verona Pharma in the second quarter valued at $38,000. Finally, Sei Investments Co. increased its stake in Verona Pharma by 3.7% in the first 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 last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Verona Pharma Stock Up 0.1 %

VRNA stock opened at $32.05 on Thursday. The stock has a market capitalization of $2.56 billion, a PE ratio of -41.62 and a beta of 0.44. The company has a fifty day moving average of $26.86 and a 200-day moving average of $19.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61. Verona Pharma has a one year low of $11.39 and a one year high of $32.88.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same quarter in the previous year, the business posted ($0.11) EPS. As a group, analysts expect that Verona Pharma will post -2.07 EPS for the current year.

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.