Analysts Set Verona Pharma plc (NASDAQ:VRNA) Price Target at $74.67

Verona Pharma plc (NASDAQ:VRNA) has received a consensus rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $75.43.

A number of research firms have recently issued reports on VRNA. Cantor Fitzgerald assumed coverage on Verona Pharma in a report on Monday, April 21st. They issued an “overweight” rating and a $80.00 target price for the company. Roth Mkm started coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 price target for the company. Roth Capital set a $83.00 price objective on shares of Verona Pharma in a research note on Friday, February 28th. Truist Financial restated a “buy” rating and set a $57.00 price target (up from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 28th.

Insider Buying and Selling

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the sale, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Verona Pharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Verona Pharma by 61.0% in the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company’s stock worth $140,492,000 after purchasing an additional 1,146,609 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Verona Pharma by 8.5% in the 4th quarter. Jennison Associates LLC now owns 1,889,542 shares of the company’s stock worth $87,750,000 after acquiring an additional 148,656 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Verona Pharma by 37.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,833,532 shares of the company’s stock worth $85,150,000 after purchasing an additional 498,338 shares in the last quarter. RTW Investments LP bought a new position in Verona Pharma in the fourth quarter worth $84,568,000. Finally, Janus Henderson Group PLC boosted its stake in Verona Pharma by 59.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company’s stock worth $77,466,000 after buying an additional 624,370 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Verona Pharma Stock Performance

Verona Pharma stock opened at $65.46 on Monday. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $70.40. The firm’s 50 day simple moving average is $62.40 and its 200-day simple moving average is $50.55. 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 company has a market cap of $5.29 billion, a P/E ratio of -34.09 and a beta of 0.16.

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.