Verona Pharma plc (NASDAQ:VRNA) Receives $69.14 Consensus Target Price from Analysts

Verona Pharma plc (NASDAQ:VRNA) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $69.14.

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research report on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and set a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Roth Mkm initiated coverage on Verona Pharma in a report on Friday, January 10th. They set a “buy” rating and a $68.00 target price on the stock.

Insider Activity

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction of $661,854.40. Following the transaction, the insider now directly owns 2,608,976 shares in the company, valued at approximately $21,784,949.60. This represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Verona Pharma

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Verona Pharma by 20.7% in the fourth quarter. GAMMA Investing LLC now owns 1,612 shares of the company’s stock valued at $75,000 after buying an additional 276 shares during the period. Diversify Advisory Services LLC increased its stake in shares of Verona Pharma by 5.2% in the 4th quarter. Diversify Advisory Services LLC now owns 6,166 shares of the company’s stock valued at $279,000 after acquiring an additional 305 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Verona Pharma by 1.9% in the 4th quarter. Townsquare Capital LLC now owns 17,958 shares of the company’s stock valued at $834,000 after acquiring an additional 332 shares during the period. Geode Capital Management LLC boosted its stake in 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 during the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new position in Verona Pharma during the fourth quarter valued at approximately $46,000. 85.88% of the stock is owned by institutional investors.

Verona Pharma Stock Up 1.3 %

VRNA opened at $63.49 on Thursday. The company has a market capitalization of $5.13 billion, a P/E ratio of -33.07 and a beta of 0.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The firm’s fifty day moving average price is $62.43 and its two-hundred day moving average price is $46.73. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $70.40.

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.