Verona Pharma (NASDAQ:VRNA) PT Raised to $44.00

Verona Pharma (NASDAQ:VRNA) had its price objective boosted by Truist Financial from $38.00 to $44.00 in a research note released on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research analysts also recently commented on VRNA. Wells Fargo & Company started coverage on Verona Pharma in a research note on Thursday, October 3rd. They set an overweight rating and a $50.00 target price for the company. HC Wainwright reiterated a buy rating and set a $36.00 price objective on shares of Verona Pharma in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group raised their target price on shares of Verona Pharma from $35.00 to $37.00 and gave the company a buy rating in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $39.33.

Verona Pharma Stock Up 4.2 %

Shares of VRNA opened at $32.68 on Wednesday. The firm has a 50 day simple moving average of $27.60 and a two-hundred day simple moving average of $20.09. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61. Verona Pharma has a one year low of $11.39 and a one year high of $32.96. The company has a market cap of $2.65 billion, a P/E ratio of -21.21 and a beta of 0.44.

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

Institutional Trading of Verona Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC acquired a new stake in Verona Pharma during the 2nd quarter worth approximately $29,000. EMC Capital Management acquired a new position in shares of Verona Pharma during the second quarter worth $38,000. GAMMA Investing LLC grew its stake 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 worth $38,000 after purchasing an additional 553 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Verona Pharma in the second quarter worth $154,000. Finally, Marshall Wace LLP acquired a new stake in Verona Pharma in the second quarter valued at $195,000. 85.88% of the stock is currently 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.