Verona Pharma plc (NASDAQ:VRNA) Receives $53.14 Average Price Target from Brokerages

Verona Pharma plc (NASDAQ:VRNA - Get Free Report) has been assigned a consensus rating of "Buy" from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $53.14.

Several equities analysts have recently weighed in on VRNA shares. Canaccord Genuity Group lifted their price target on Verona Pharma from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Truist Financial reaffirmed a "buy" rating and set a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Roth Mkm started coverage on shares of Verona Pharma in a report on Friday, January 10th. They issued a "buy" rating and a $68.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Verona Pharma from $64.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Finally, Roth Capital upgraded shares of Verona Pharma to a "strong-buy" rating in a research note on Friday, January 10th.

Insider Transactions at Verona Pharma

In other Verona Pharma news, CFO Mark W. Hahn sold 183,728 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $5.01, for a total transaction of $920,477.28. Following the transaction, the chief financial officer now directly owns 13,293,736 shares in the company, valued at $66,601,617.36. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathleen A. Rickard sold 240,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.90, for a total transaction of $1,176,000.00. Following the completion of the sale, the insider now owns 2,671,480 shares of the company's stock, valued at approximately $13,090,252. The trade was a 8.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 954,888 shares of company stock valued at $4,755,881 in the last quarter. Insiders own 4.80% of the company's stock.

Hedge Funds Weigh In On Verona Pharma

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Verona Pharma by 70.6% during the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company's stock valued at $38,000 after buying an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Verona Pharma by 25.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company's stock valued at $75,000 after acquiring an additional 529 shares during the period. EMC Capital Management grew 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 acquiring an additional 3,400 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Verona Pharma during the 3rd quarter worth approximately $169,000. Finally, Marshall Wace LLP purchased a new position in Verona Pharma in the 2nd quarter worth approximately $195,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Verona Pharma Stock Performance

VRNA traded down $0.99 during trading hours on Wednesday, hitting $60.26. The stock had a trading volume of 1,108,242 shares, compared to its average volume of 1,403,909. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $62.00. The company's fifty day simple moving average is $47.98 and its 200 day simple moving average is $36.60. The stock has a market cap of $4.82 billion, a PE ratio of -31.39 and a beta of 0.41. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93.

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.