Verona Pharma plc (NASDAQ:VRNA) Given Average Rating of “Buy” by Analysts

Verona Pharma plc (NASDAQ:VRNA) has earned an average rating of “Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $66.83.

VRNA has been the topic of several research analyst reports. HC Wainwright boosted their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company upped their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. 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 for the company. Canaccord Genuity Group upped their price objective on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Truist Financial reiterated a “buy” rating and issued a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th.

Verona Pharma Trading Down 1.6 %

Verona Pharma stock opened at $64.65 on Friday. The company’s fifty day simple moving average is $57.11 and its 200-day simple moving average is $42.43. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. Verona Pharma has a 12 month low of $11.39 and a 12 month high of $70.40. The stock has a market cap of $5.23 billion, a P/E ratio of -33.67 and a beta of 0.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vermillion Wealth Management Inc. acquired a new position in Verona Pharma during the 4th quarter worth $46,000. GF Fund Management CO. LTD. acquired a new position in Verona Pharma during the 4th quarter worth $72,000. GAMMA Investing LLC lifted its position in Verona Pharma by 20.7% during the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock worth $75,000 after acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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. Finally, EMC Capital Management lifted its position in Verona Pharma by 3,400.0% during the 4th 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 and hedge funds 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.