Verona Pharma (NASDAQ:VRNA) Upgraded at Zacks Investment Research

Verona Pharma (NASDAQ:VRNAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday, Zacks.com reports. The brokerage currently has a $4.50 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 13.92% from the stock’s current price.

According to Zacks, “Verona Pharma plc is a clinical-stage biopharmaceutical company. It researches, discovers and develops therapeutic drugs to treat respiratory diseases primarily in the United Kingdom and North America. Verona Pharma plc is based in London, the United Kingdom. “

Separately, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Verona Pharma in a report on Tuesday, January 25th.

Shares of NASDAQ VRNA traded down $0.10 during midday trading on Friday, hitting $3.95. The stock had a trading volume of 159,411 shares, compared to its average volume of 113,311. The business’s 50 day moving average is $4.68 and its 200-day moving average is $5.32. Verona Pharma has a 52 week low of $3.66 and a 52 week high of $7.87. The company has a quick ratio of 5.09, a current ratio of 4.04 and a debt-to-equity ratio of 0.04. The company has a market cap of $238.46 million, a P/E ratio of -3.32 and a beta of 0.67.

Verona Pharma (NASDAQ:VRNAGet Rating) last announced its quarterly earnings data on Thursday, March 3rd. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.10. As a group, analysts expect that Verona Pharma will post -1.56 EPS for the current fiscal year.

In other Verona Pharma news, insider Kathleen A. Rickard sold 112,800 shares of the firm’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $0.59, for a total value of $66,552.00. Following the transaction, the insider now directly owns 2,606,128 shares of the company’s stock, valued at $1,537,615.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathleen A. Rickard sold 59,720 shares of the business’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $0.54, for a total value of $32,248.80. Following the sale, the insider now owns 2,546,408 shares of the company’s stock, valued at $1,375,060.32. The disclosure for this sale can be found here. Insiders sold 246,688 shares of company stock worth $135,597 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its position in Verona Pharma by 123.0% in the third quarter. Morgan Stanley now owns 8,194 shares of the company’s stock worth $45,000 after buying an additional 4,520 shares in the last quarter. Lindbrook Capital LLC bought a new position in shares of Verona Pharma during the 4th quarter valued at approximately $67,000. Geode Capital Management LLC purchased a new stake in Verona Pharma in the 3rd quarter worth approximately $58,000. IPG Investment Advisors LLC bought a new stake in Verona Pharma during the 4th quarter worth approximately $80,000. Finally, Marshall Wace LLP purchased a new position in Verona Pharma during the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 61.19% of the company’s stock.

Verona Pharma Company Profile (Get Rating)

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.

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