Wells Fargo & Company Begins Coverage on Verona Pharma (NASDAQ:VRNA)

Wells Fargo & Company initiated coverage on shares of Verona Pharma (NASDAQ:VRNA) in a research note released on Thursday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $50.00 target price on the stock.

A number of other research analysts have also recently commented on VRNA. Truist Financial boosted their target price on shares of Verona Pharma from $32.00 to $38.00 and gave the stock a buy rating in a research report on Friday, June 28th. Canaccord Genuity Group lifted their price target on shares of Verona Pharma from $35.00 to $37.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, HC Wainwright restated a buy rating and issued a $36.00 price target on shares of Verona Pharma in a research note on Tuesday, October 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Verona Pharma has a consensus rating of Buy and an average target price of $38.33.

Verona Pharma Trading Up 3.9 %

Shares of VRNA stock opened at $32.01 on Thursday. The firm’s 50 day moving average price is $26.86 and its two-hundred day moving average price is $19.68. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $32.88. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -41.57 and a beta of 0.44.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.53). During the same period last year, the business earned ($0.11) EPS. On average, analysts anticipate that Verona Pharma will post -2.07 EPS for the current year.

Institutional Trading of Verona Pharma

Several institutional investors have recently added to or reduced their stakes in VRNA. CWM LLC bought a new stake in Verona Pharma during the second quarter valued at $29,000. EMC Capital Management bought a new stake in Verona Pharma during the second quarter valued at $38,000. Legato Capital Management LLC bought a new stake in Verona Pharma during the second quarter valued at $154,000. Marshall Wace LLP bought a new stake in Verona Pharma during the second quarter valued at $195,000. Finally, Verus Capital Partners LLC bought a new stake in Verona Pharma during the second quarter valued at $251,000. Institutional investors own 85.88% of the company’s stock.

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.