Verona Pharma (NASDAQ:VRNA) Price Target Raised to $75.00

Verona Pharma (NASDAQ:VRNA) had its price objective lifted by research analysts at HC Wainwright from $60.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 11.74% from the company’s current price.

Several other equities analysts have also issued reports on the company. Roth Capital upgraded Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Roth Mkm started coverage on Verona Pharma in a research report on Friday, January 10th. They set a “buy” rating and a $68.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $57.00 target price (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Canaccord Genuity Group lifted their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Verona Pharma currently has an average rating of “Buy” and an average price target of $59.29.

Verona Pharma Stock Performance

NASDAQ VRNA opened at $67.12 on Friday. The company’s fifty day moving average is $54.50 and its two-hundred day moving average is $40.66. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of -34.96 and a beta of 0.41. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $69.80.

Insider Transactions at Verona Pharma

In other news, CEO David Zaccardelli sold 67,608 shares of Verona Pharma stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $5.00, for a total value of $338,040.00. Following the completion of the transaction, the chief executive officer now owns 15,007,816 shares in the company, valued at approximately $75,039,080. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark W. Hahn sold 183,728 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $5.01, for a total value of $920,477.28. Following the sale, the chief financial officer now owns 13,293,736 shares in the company, valued at approximately $66,601,617.36. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 477,120 shares of company stock valued at $2,389,065. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Verona Pharma

Several institutional investors have recently bought and sold shares of VRNA. Vermillion Wealth Management Inc. bought a new stake in shares of Verona Pharma during the fourth quarter worth $46,000. GF Fund Management CO. LTD. acquired a new position in Verona Pharma during the 4th quarter worth about $72,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after acquiring an additional 529 shares during the last quarter. GAMMA Investing LLC increased its position in Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock valued at $75,000 after acquiring an additional 276 shares in the last quarter. Finally, EMC Capital Management raised its stake in shares of Verona Pharma by 3,400.0% in the fourth quarter. EMC Capital Management now owns 3,500 shares of the company’s stock worth $163,000 after acquiring an additional 3,400 shares during the last quarter. 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.