Verona Pharma (NASDAQ:VRNA) Receives New Coverage from Analysts at Wells Fargo & Company

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

Several other equities research analysts have also weighed in on the company. HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of Verona Pharma in a report on Tuesday. Canaccord Genuity Group raised their target price on Verona Pharma from $35.00 to $37.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, Truist Financial raised their target price on Verona Pharma from $32.00 to $38.00 and gave the stock a buy rating in a research note on Friday, June 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $38.33.

Verona Pharma Trading Up 7.3 %

Shares of VRNA opened at $30.81 on Thursday. The business has a 50-day moving average of $26.67 and a 200 day moving average of $19.54. Verona Pharma has a fifty-two week low of $11.39 and a fifty-two week high of $31.83. The firm has a market cap of $2.46 billion, a P/E ratio of -40.01 and a beta of 0.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.61 and a current ratio of 8.61.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.53). During the same period in the prior year, the firm earned ($0.11) earnings per share. As a group, research analysts forecast that Verona Pharma will post -2.07 EPS for the current year.

Institutional Trading of Verona Pharma

A number of large investors have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC boosted its position in shares of Verona Pharma by 1.7% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock valued at $1,011,000 after acquiring an additional 862 shares during the last quarter. CWM LLC bought a new stake in shares of Verona Pharma during the 2nd quarter valued at about $29,000. EMC Capital Management bought a new stake in shares of Verona Pharma during the 2nd quarter valued at about $38,000. Sei Investments Co. boosted its position in shares of Verona Pharma by 3.7% during the 1st quarter. Sei Investments Co. now owns 74,294 shares of the company’s stock valued at $1,195,000 after acquiring an additional 2,640 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Verona Pharma by 35.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,200 shares of the company’s stock valued at $325,000 after acquiring an additional 5,322 shares during the last quarter. 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.