Wells Fargo & Company Raises Verona Pharma (NASDAQ:VRNA) Price Target to $93.00

Verona Pharma (NASDAQ:VRNA - Free Report) had its price objective increased by Wells Fargo & Company from $74.00 to $93.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

VRNA has been the topic of a number of other reports. HC Wainwright upped their target price on shares of Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday. Roth Capital raised shares of Verona Pharma to a "strong-buy" rating in a report on Friday, January 10th. Roth Mkm initiated coverage on Verona Pharma in a report on Friday, January 10th. They issued a "buy" rating and a $68.00 price objective for the company. Canaccord Genuity Group raised their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $57.00 price target (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $66.83.

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Verona Pharma Price Performance

Verona Pharma stock traded up $1.53 on Friday, reaching $67.50. The company's stock had a trading volume of 1,202,477 shares, compared to its average volume of 1,572,525. The business's fifty day moving average price is $55.46 and its 200 day moving average price is $41.44. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The company has a market cap of $5.43 billion, a price-to-earnings ratio of -35.16 and a beta of 0.41. Verona Pharma has a twelve month low of $11.39 and a twelve month high of $70.40.

Insider Transactions at Verona Pharma

In other Verona Pharma news, CEO David Zaccardelli sold 67,608 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $5.00, for a total value of $338,040.00. Following the completion of the sale, the chief executive officer now owns 15,007,816 shares in the company, valued at $75,039,080. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Hahn sold 58,184 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $5.00, for a total transaction of $290,920.00. Following the transaction, the chief financial officer now owns 14,117,512 shares in the company, valued at $70,587,560. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 472,320 shares of company stock valued at $2,365,065 over the last three months. Company insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNA. Vermillion Wealth Management Inc. bought a new stake in shares of Verona Pharma during the 4th quarter worth about $46,000. GF Fund Management CO. LTD. bought a new position in shares of Verona Pharma during the fourth quarter worth approximately $72,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 valued at $75,000 after buying an additional 529 shares in the last quarter. GAMMA Investing LLC increased 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 buying an additional 276 shares during the period. Finally, EMC Capital Management increased its position in Verona Pharma by 3,400.0% during the 4th quarter. EMC Capital Management now owns 3,500 shares of the company's stock worth $163,000 after buying an additional 3,400 shares during the period. 85.88% of the stock is owned by institutional investors.

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.