Verona Pharma plc (NASDAQ:VRNA) Receives Average Rating of “Buy” from Analysts

Verona Pharma plc (NASDAQ:VRNA) has received an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $74.67.

Several equities research analysts recently commented on the stock. Roth Mkm initiated coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective on the stock. HC Wainwright upped their price target on shares of Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report 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 stock a “buy” rating in a research note on Wednesday, February 12th. Roth Capital set a $83.00 target price on Verona Pharma in a research note on Friday, February 28th. Finally, Truist Financial reissued a “buy” rating and set a $57.00 price target (up previously from $44.00) on shares of Verona Pharma in a research report on Wednesday, January 8th.

Verona Pharma Stock Performance

NASDAQ VRNA opened at $58.92 on Monday. The business has a 50 day moving average price of $62.43 and a 200 day moving average price of $49.72. The company has a debt-to-equity ratio of 0.93, a current ratio of 13.03 and a quick ratio of 12.88. The company has a market capitalization of $4.76 billion, a P/E ratio of -30.69 and a beta of 0.16. Verona Pharma has a 1-year low of $11.39 and a 1-year high of $70.40.

Insiders Place Their Bets

In other Verona Pharma 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 value of $661,854.40. Following the transaction, the insider now owns 2,608,976 shares in the company, valued at $21,784,949.60. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VRNA. Shilanski & Associates Inc. acquired a new stake in shares of Verona Pharma in the fourth quarter worth $305,000. Values First Advisors Inc. grew its position in Verona Pharma by 36.9% in the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company’s stock valued at $1,092,000 after acquiring an additional 6,331 shares in the last quarter. Choreo LLC purchased a new stake in shares of Verona Pharma during the fourth quarter valued at approximately $230,000. Legato Capital Management LLC lifted its position in shares of Verona Pharma by 132.9% during the fourth quarter. Legato Capital Management LLC now owns 24,853 shares of the company’s stock worth $1,154,000 after purchasing an additional 14,183 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Verona Pharma by 24.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 193,707 shares of the company’s stock valued at $8,996,000 after purchasing an additional 37,872 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.