Verona Pharma (NASDAQ:VRNA) PT Raised to $37.00

Verona Pharma (NASDAQ:VRNA) had its target price increased by investment analysts at Canaccord Genuity Group from $35.00 to $37.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 64.59% from the stock’s current price.

Several other equities research analysts have also weighed in on VRNA. HC Wainwright lifted their price objective on Verona Pharma from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Piper Sandler lifted their price objective on Verona Pharma from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Finally, Truist Financial lifted their target price on Verona Pharma from $32.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verona Pharma presently has a consensus rating of “Buy” and a consensus price target of $36.00.

Verona Pharma Trading Down 1.7 %

NASDAQ VRNA opened at $22.48 on Monday. The business’s fifty day moving average is $15.53 and its 200-day moving average is $16.23. Verona Pharma has a one year low of $11.39 and a one year high of $23.72. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -29.19 and a beta of 0.44. The company has a debt-to-equity ratio of 0.22, a current ratio of 18.40 and a quick ratio of 18.40.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08). Equities research analysts predict that Verona Pharma will post -1.58 EPS for the current year.

Insider Buying and Selling at Verona Pharma

In other news, insider Kathleen A. Rickard sold 36,248 shares of Verona Pharma stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1.96, for a total transaction of $71,046.08. Following the completion of the sale, the insider now owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Trading of Verona Pharma

A number of large investors have recently modified their holdings of VRNA. American Century Companies Inc. bought a new stake in shares of Verona Pharma during the 3rd quarter valued at about $4,566,000. Legato Capital Management LLC lifted its position in Verona Pharma by 26.1% in the 4th quarter. Legato Capital Management LLC now owns 24,329 shares of the company’s stock worth $484,000 after buying an additional 5,032 shares during the last quarter. PFG Investments LLC bought a new stake in Verona Pharma in the 4th quarter worth approximately $354,000. Jennison Associates LLC lifted its position in Verona Pharma by 9.9% in the 4th quarter. Jennison Associates LLC now owns 1,585,385 shares of the company’s stock worth $31,517,000 after buying an additional 142,819 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Verona Pharma by 14.3% in the 4th quarter. New York State Common Retirement Fund now owns 29,669 shares of the company’s stock worth $590,000 after buying an additional 3,716 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

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.