VERONA PHARMA P/S (NASDAQ:VRNA) Receives “Buy” Rating from Wedbush

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VERONA PHARMA P/S (NASDAQ:VRNA)‘s stock had its “buy” rating reiterated by Wedbush in a research note issued on Friday, TipRanks reports. They currently have a $60.00 target price on the stock.

VRNA has been the subject of a number of other research reports. SunTrust Banks increased their price target on shares of VERONA PHARMA P/S from $29.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Zacks Investment Research downgraded shares of VERONA PHARMA P/S from a “buy” rating to a “hold” rating in a report on Saturday, January 18th. Finally, ValuEngine lowered shares of VERONA PHARMA P/S from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $29.44.

Shares of NASDAQ:VRNA opened at $7.28 on Friday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.02. VERONA PHARMA P/S has a 12 month low of $3.65 and a 12 month high of $12.89. The company has a 50-day moving average price of $6.01 and a 200 day moving average price of $4.74. The company has a market cap of $87.55 million, a price-to-earnings ratio of -2.76 and a beta of -0.77.

A number of institutional investors have recently bought and sold shares of VRNA. UBS Group AG raised its position in VERONA PHARMA P/S by 801.8% in the 4th quarter. UBS Group AG now owns 10,055 shares of the company’s stock worth $58,000 after purchasing an additional 8,940 shares during the period. Renaissance Technologies LLC purchased a new stake in VERONA PHARMA P/S in the 4th quarter worth about $72,000. IHT Wealth Management LLC raised its position in VERONA PHARMA P/S by 18.1% in the 3rd quarter. IHT Wealth Management LLC now owns 20,460 shares of the company’s stock worth $94,000 after purchasing an additional 3,130 shares during the period. Finally, Wedbush Securities Inc. raised its position in VERONA PHARMA P/S by 24.7% in the 3rd quarter. Wedbush Securities Inc. now owns 30,315 shares of the company’s stock worth $139,000 after purchasing an additional 6,000 shares during the period. 56.28% of the stock is currently owned by institutional investors.

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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