Verona Pharma plc (NASDAQ:VRNA) Given Average Recommendation of "Buy" by Brokerages

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) has earned an average recommendation of "Buy" from the seven research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $75.43.

A number of research analysts recently issued reports on VRNA shares. HC Wainwright lifted their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Cantor Fitzgerald started coverage on Verona Pharma in a research report on Monday. They set an "overweight" rating and a $80.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Canaccord Genuity Group raised their price objective 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. Finally, Roth Mkm started coverage on Verona Pharma in a research report on Friday, January 10th. They issued a "buy" rating and a $68.00 price objective for the company.

Insider Buying and Selling at Verona Pharma

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 value 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 Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Verona Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. purchased a new position in shares of Verona Pharma during the 1st quarter worth $34,000. Vermillion Wealth Management Inc. acquired a new stake in Verona Pharma in the 4th quarter worth about $46,000. GF Fund Management CO. LTD. acquired a new position in shares of Verona Pharma during the 4th quarter valued at about $72,000. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 276 shares during the period. Finally, Avanza Fonder AB acquired a new stake in shares of Verona Pharma in the first quarter worth approximately $100,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Verona Pharma Stock Down 0.1 %

VRNA traded down $0.07 during trading hours on Monday, hitting $64.72. 218,597 shares of the company's stock were exchanged, compared to its average volume of 1,221,523. The firm has a market cap of $5.23 billion, a P/E ratio of -33.78 and a beta of 0.16. Verona Pharma has a 12-month low of $11.39 and a 12-month high of $70.40. The company has a current ratio of 13.03, a quick ratio of 12.88 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $62.38 and a 200 day moving average of $50.32.

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.