Brokerages Set Verona Pharma plc (NASDAQ:VRNA) Price Target at $53.14

Verona Pharma plc (NASDAQ:VRNA) has earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $53.14.

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Canaccord Genuity Group increased their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Capital upgraded Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Roth Mkm assumed coverage on Verona Pharma in a report on Friday, January 10th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th.

Verona Pharma Trading Up 1.0 %

Shares of NASDAQ VRNA opened at $59.33 on Wednesday. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $48.37 and a two-hundred day simple moving average of $37.06. The firm has a market cap of $4.77 billion, a PE ratio of -30.90 and a beta of 0.41. Verona Pharma has a twelve month low of $11.39 and a twelve month high of $62.00.

Insider Transactions at Verona Pharma

In other Verona Pharma news, CFO Mark W. Hahn sold 183,728 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $5.01, for a total transaction of $920,477.28. Following the transaction, the chief financial officer now owns 13,293,736 shares in the company, valued at approximately $66,601,617.36. This represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kathleen A. Rickard sold 240,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $4.90, for a total transaction of $1,176,000.00. Following the transaction, the insider now owns 2,671,480 shares in the company, valued at $13,090,252. The trade was a 8.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 952,488 shares of company stock valued at $4,743,881 in the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verona Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNA. Eventide Asset Management LLC raised its stake in Verona Pharma by 359.6% in the 3rd quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company’s stock worth $69,792,000 after acquiring an additional 1,898,065 shares during the last quarter. Maverick Capital Ltd. lifted its holdings in shares of Verona Pharma by 36.3% during the third quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company’s stock worth $121,294,000 after purchasing an additional 1,123,166 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of Verona Pharma during the third quarter worth about $31,966,000. Jennison Associates LLC lifted its holdings in shares of Verona Pharma by 54.3% during the third quarter. Jennison Associates LLC now owns 1,740,886 shares of the company’s stock worth $50,085,000 after purchasing an additional 612,854 shares during the period. Finally, First Turn Management LLC acquired a new stake in shares of Verona Pharma during the third quarter worth about $16,483,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

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.