Verona Pharma (NASDAQ:VRNA) Price Target Raised to $64.00 at Wells Fargo & Company

Verona Pharma (NASDAQ:VRNA - Get Free Report) had its price target raised by equities researchers at Wells Fargo & Company from $50.00 to $64.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 66.71% from the stock's previous close.

VRNA has been the subject of a number of other reports. Canaccord Genuity Group upped their price target on shares of Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday. HC Wainwright increased their target price on Verona Pharma from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Truist Financial raised their target price on Verona Pharma from $38.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $43.83.

Verona Pharma Stock Performance

Shares of VRNA stock traded up $0.24 during trading on Tuesday, reaching $38.39. The company had a trading volume of 1,210,037 shares, compared to its average volume of 923,131. The firm's 50 day simple moving average is $31.07 and its two-hundred day simple moving average is $22.49. Verona Pharma has a one year low of $11.39 and a one year high of $39.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 8.61 and a quick ratio of 8.61. The company has a market capitalization of $3.12 billion, a PE ratio of -24.93 and a beta of 0.42.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.12). The firm had revenue of $5.62 million for the quarter, compared to the consensus estimate of $2.31 million. During the same quarter last year, the company posted ($0.18) earnings per share. Sell-side analysts forecast that Verona Pharma will post -2.07 earnings per share for the current year.

Insider Buying and Selling

In other Verona Pharma news, CFO Mark W. Hahn sold 80,784 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $4.39, for a total value of $354,641.76. Following the completion of the transaction, the chief financial officer now owns 14,293,736 shares of the company's stock, valued at $62,749,501.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Verona Pharma news, CFO Mark W. Hahn sold 80,784 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $4.39, for a total value of $354,641.76. Following the sale, the chief financial officer now owns 14,293,736 shares of the company's stock, valued at $62,749,501.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Hahn sold 249,728 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.38, for a total transaction of $1,093,808.64. Following the transaction, the chief financial officer now directly owns 14,089,960 shares of the company's stock, valued at $61,714,024.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,139,544 shares of company stock valued at $4,992,952 over the last three months. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verona Pharma

Several large investors have recently modified their holdings of VRNA. CWM LLC acquired a new stake in Verona Pharma in the 2nd quarter valued at $29,000. EMC Capital Management bought a new position in shares of Verona Pharma during the second quarter valued at $38,000. GAMMA Investing LLC boosted its stake in shares of Verona Pharma by 70.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock valued at $38,000 after purchasing an additional 553 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Verona Pharma by 25.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock worth $75,000 after purchasing an additional 529 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Verona Pharma during the 2nd quarter worth about $154,000. 85.88% of the stock is currently owned by institutional investors.

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.