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 analysts that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $75.43.

A number of analysts recently issued reports on VRNA shares. Wells Fargo & Company increased their price target 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. Truist Financial restated a “buy” rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th. Roth Mkm began coverage on Verona Pharma in a report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective on the stock. Canaccord Genuity Group upped their target price 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, Cantor Fitzgerald initiated coverage on Verona Pharma in a report on Monday, April 21st. They issued an “overweight” rating and a $80.00 price target for the company.

Verona Pharma Stock Up 1.0 %

Shares of VRNA opened at $65.46 on Monday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -34.09 and a beta of 0.16. Verona Pharma has a 52 week low of $11.39 and a 52 week high of $70.40. The stock’s 50-day moving average price is $62.40 and its 200-day moving average price is $50.82. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling

In related news, insider Kathleen A. Rickard sold 79,264 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares of the company’s stock, valued at approximately $21,784,949.60. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. NBC Securities Inc. purchased a new stake in shares of Verona Pharma during the first quarter worth approximately $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Verona Pharma during the fourth quarter worth about $46,000. GF Fund Management CO. LTD. acquired a new position in Verona Pharma during the fourth quarter worth approximately $72,000. GAMMA Investing LLC increased its holdings in shares of Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock valued at $75,000 after acquiring an additional 276 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of Verona Pharma in the first quarter valued at about $100,000. 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.