Wells Fargo & Company Increases Verona Pharma (NASDAQ:VRNA) Price Target to $64.00

Verona Pharma (NASDAQ:VRNA) had its price target lifted by Wells Fargo & Company from $50.00 to $64.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the company. HC Wainwright raised their price target on Verona Pharma from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Truist Financial raised their price target on Verona Pharma from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group raised their price target on Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Verona Pharma currently has an average rating of “Buy” and an average price target of $43.83.

Verona Pharma Trading Up 0.6 %

Shares of VRNA opened at $38.39 on Tuesday. The stock has a 50 day moving average of $31.07 and a 200-day moving average of $22.49. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.72. Verona Pharma has a 52 week low of $11.39 and a 52 week high of $39.40.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.12). The firm had revenue of $5.62 million during the quarter, compared to the consensus estimate of $2.31 million. During the same period last year, the firm posted ($0.18) EPS. As a group, sell-side analysts expect that Verona Pharma will post -2.07 EPS for the current year.

Insider Buying and Selling at Verona Pharma

In other Verona Pharma news, CEO David Zaccardelli sold 245,784 shares of Verona Pharma stock in a transaction on Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,076,533.92. Following the sale, the chief executive officer now owns 15,004,920 shares of the company’s stock, valued at $65,721,549.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Verona Pharma news, CEO David Zaccardelli sold 245,784 shares of Verona Pharma stock in a transaction on Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,076,533.92. Following the sale, the chief executive officer now owns 15,004,920 shares of the company’s stock, valued at $65,721,549.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Hahn sold 116,696 shares of Verona Pharma stock in a transaction on Monday, October 21st. The shares were sold at an average price of $4.38, for a total value of $511,128.48. Following the sale, the chief financial officer now directly owns 13,973,264 shares in the company, valued at $61,202,896.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,139,544 shares of company stock valued at $4,992,952 in the last quarter. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Verona Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock worth $38,000 after buying an additional 553 shares in the last quarter. CWM LLC bought a new stake in shares of Verona Pharma in the 2nd quarter worth $29,000. EMC Capital Management bought a new stake in shares of Verona Pharma in the 2nd quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock worth $75,000 after buying an additional 529 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in shares of Verona Pharma in the 3rd quarter worth $169,000. 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.