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

Verona Pharma plc (NASDAQ:VRNA) has been given an average recommendation of “Buy” by the seven brokerages that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $66.83.

A number of research firms have weighed in on VRNA. Truist Financial reiterated a “buy” rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Roth Capital raised Verona Pharma to a “strong-buy” rating in a research note on Friday, January 10th. Wells Fargo & Company lifted their price target on Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Canaccord Genuity Group increased their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, HC Wainwright raised their price objective on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, February 28th.

Verona Pharma Stock Down 2.6 %

Verona Pharma stock opened at $65.67 on Friday. Verona Pharma has a 12 month low of $11.39 and a 12 month high of $70.40. The stock has a fifty day simple moving average of $56.74 and a two-hundred day simple moving average of $42.07. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of -34.20 and a beta of 0.39.

Hedge Funds Weigh In On Verona Pharma

Several large investors have recently bought and sold shares of the stock. 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 period. Diversify Advisory Services LLC boosted its stake in shares of Verona Pharma by 5.2% in the fourth quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company’s stock valued at $279,000 after buying an additional 305 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Verona Pharma by 1.9% during the 4th quarter. Townsquare Capital LLC now owns 17,958 shares of the company’s stock worth $834,000 after purchasing an additional 332 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Verona Pharma by 25.4% during the third 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, Geode Capital Management LLC boosted its stake in shares of Verona Pharma by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 62,741 shares of the company’s stock worth $2,914,000 after acquiring an additional 660 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Company Profile

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.