VERONA PHARMA P/S (NASDAQ:VRNA) Price Target Raised to $60.00

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VERONA PHARMA P/S (NASDAQ:VRNA) had its price target hoisted by Wedbush from $58.00 to $60.00 in a research note released on Monday, The Fly reports. The brokerage currently has an outperform rating on the stock. Wedbush also issued estimates for VERONA PHARMA P/S’s FY2024 earnings at $0.89 EPS.

Separately, Zacks Investment Research lowered shares of VERONA PHARMA P/S from a buy rating to a hold rating in a report on Saturday, November 16th. Five research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average price target of $29.44.

NASDAQ:VRNA opened at $5.95 on Monday. VERONA PHARMA P/S has a one year low of $3.65 and a one year high of $12.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.07 and a current ratio of 4.07. The firm has a market cap of $83.08 million, a price-to-earnings ratio of -2.95 and a beta of -0.78. The firm’s fifty day moving average is $4.93 and its two-hundred day moving average is $4.56.

VERONA PHARMA P/S (NASDAQ:VRNA) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.06). As a group, equities research analysts predict that VERONA PHARMA P/S will post -3.44 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in VERONA PHARMA P/S stock. IHT Wealth Management LLC lifted its position in shares of VERONA PHARMA P/S (NASDAQ:VRNA) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,460 shares of the company’s stock after acquiring an additional 3,130 shares during the quarter. IHT Wealth Management LLC owned 0.16% of VERONA PHARMA P/S worth $94,000 as of its most recent SEC filing. Institutional investors own 55.89% of the company’s stock.

About VERONA PHARMA P/S

Verona Pharma plc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics to treat respiratory diseases. The company's product candidate is RPL554, an inhaled dual inhibitor of the enzymes phosphodiesterase 3 and 4, which has completed Phase I and II clinical trials that acts as a bronchodilator and an anti-inflammatory agent for the treatment of chronic obstructive pulmonary disease, cystic fibrosis, chronic asthma, and allergic rhinitis.

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