Cantor Fitzgerald Initiates Coverage on Verona Pharma (NASDAQ:VRNA)

Equities research analysts at Cantor Fitzgerald started coverage on shares of Verona Pharma (NASDAQ:VRNA) in a research note issued on Monday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $80.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 29.01% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on VRNA. Wells Fargo & Company raised their target price on Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. HC Wainwright raised their price target on Verona Pharma from $60.00 to $75.00 and gave the company a “buy” rating in a report on Friday, February 28th. Truist Financial reissued a “buy” rating and set a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th. Finally, Canaccord Genuity Group boosted their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $75.43.

Verona Pharma Trading Up 3.2 %

NASDAQ VRNA opened at $62.01 on Monday. The firm has a market capitalization of $5.01 billion, a PE ratio of -32.30 and a beta of 0.16. Verona Pharma has a one year low of $11.39 and a one year high of $70.40. The company has a 50-day simple moving average of $62.38 and a 200-day simple moving average of $50.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Insider Activity at Verona Pharma

In other Verona Pharma news, insider Kathleen A. Rickard sold 79,264 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Shilanski & Associates Inc. bought a new position in shares of Verona Pharma during the fourth quarter worth approximately $305,000. Values First Advisors Inc. lifted its holdings in shares of Verona Pharma by 36.9% in the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company’s stock worth $1,092,000 after acquiring an additional 6,331 shares during the last quarter. Choreo LLC acquired a new stake in shares of Verona Pharma during the 4th quarter valued at $230,000. Legato Capital Management LLC raised its holdings in Verona Pharma by 132.9% in the 4th quarter. Legato Capital Management LLC now owns 24,853 shares of the company’s stock valued at $1,154,000 after buying an additional 14,183 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew 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 worth $8,996,000 after purchasing an additional 37,872 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

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.