Verona Pharma plc (NASDAQ:VRNA) Receives Consensus Recommendation of "Buy" from Brokerages

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) has been assigned an average rating of "Buy" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $69.14.

A number of brokerages have weighed in on VRNA. Truist Financial reiterated a "buy" rating and issued a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Canaccord Genuity Group lifted their target price on Verona Pharma from $44.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Roth Mkm initiated coverage on Verona Pharma in a research report on Friday, January 10th. They set a "buy" rating and a $68.00 price target for the company. HC Wainwright raised their price objective on Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th.

Verona Pharma Trading Down 2.8 %

NASDAQ VRNA traded down $1.81 during trading hours on Thursday, hitting $62.70. 857,501 shares of the company's stock were exchanged, compared to its average volume of 1,152,129. The business's 50 day moving average is $62.20 and its 200-day moving average is $46.38. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. Verona Pharma has a 12-month low of $11.39 and a 12-month high of $70.40. The firm has a market capitalization of $5.07 billion, a P/E ratio of -32.66 and a beta of 0.39.

Remove Ads

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction 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. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.80% of the company's stock.

Institutional Trading of Verona Pharma

Several large investors have recently modified their holdings of VRNA. Eventide Asset Management LLC boosted its holdings in Verona Pharma by 359.6% in the third quarter. Eventide Asset Management LLC now owns 2,425,846 shares of the company's stock valued at $69,792,000 after purchasing an additional 1,898,065 shares during the last quarter. RTW Investments LP acquired a new position in shares of Verona Pharma in the 4th quarter valued at approximately $84,568,000. Wellington Management Group LLP boosted its stake in shares of Verona Pharma by 61.0% during the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company's stock valued at $140,492,000 after buying an additional 1,146,609 shares during the last quarter. Maverick Capital Ltd. grew its position in shares of Verona Pharma by 36.3% during the third quarter. Maverick Capital Ltd. now owns 4,215,973 shares of the company's stock worth $121,294,000 after buying an additional 1,123,166 shares in the last quarter. Finally, Darwin Global Management Ltd. bought a new stake in shares of Verona Pharma in the fourth quarter worth $37,637,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.