Brokerages Set Verona Pharma plc (NASDAQ:VRNA) Price Target at $66.83

Shares of Verona Pharma plc (NASDAQ:VRNA) have earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $66.83.

Several equities research analysts have recently weighed in on VRNA shares. Canaccord Genuity Group upped their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Roth Capital raised shares of Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Finally, Roth Mkm initiated coverage on shares of Verona Pharma in a report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective on the stock.

Institutional Trading of Verona Pharma

Several large investors have recently modified their holdings of VRNA. GAMMA Investing LLC grew its holdings 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 buying an additional 276 shares during the last quarter. Diversify Advisory Services LLC boosted its position in shares of Verona Pharma by 5.2% in the fourth quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company’s stock valued at $279,000 after acquiring an additional 305 shares during the period. Townsquare Capital LLC grew its stake in shares of Verona Pharma by 1.9% in the fourth quarter. Townsquare Capital LLC now owns 17,958 shares of the company’s stock worth $834,000 after acquiring an additional 332 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Verona Pharma by 25.4% during the third 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 period. Finally, Geode Capital Management LLC raised its stake in Verona Pharma by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company’s stock valued at $2,914,000 after purchasing an additional 660 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

Verona Pharma Stock Down 2.6 %

Shares of NASDAQ VRNA opened at $65.67 on Friday. The firm’s 50 day moving average price is $56.74 and its 200 day moving average price is $42.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The firm has a market cap of $5.31 billion, a P/E ratio of -34.20 and a beta of 0.39. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $70.40.

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.