Verona Pharma plc (NASDAQ:VRNA) Receives Average Recommendation of “Buy” from Brokerages

Shares of Verona Pharma plc (NASDAQ:VRNA) have earned an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $74.67.

Several equities analysts recently issued reports on VRNA shares. Canaccord Genuity Group raised their price objective on Verona Pharma from $44.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of Verona Pharma from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Truist Financial reissued a “buy” rating and issued a $57.00 target price (up previously from $44.00) on shares of Verona Pharma in a report on Wednesday, January 8th. Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th. Finally, HC Wainwright increased their price target on Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, February 28th.

Verona Pharma Trading Up 1.1 %

VRNA opened at $58.92 on Monday. Verona Pharma has a 12-month low of $11.39 and a 12-month high of $70.40. 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 stock has a market capitalization of $4.76 billion, a PE ratio of -30.69 and a beta of 0.16. The firm’s fifty day moving average price is $62.43 and its 200 day moving average price is $49.72.

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 stock was sold at an average price of $8.35, for a total transaction of $661,854.40. Following the sale, the insider now owns 2,608,976 shares of the company’s stock, valued at $21,784,949.60. The trade was a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in Verona Pharma by 61.0% in the 4th quarter. Wellington Management Group LLP now owns 3,025,241 shares of the company’s stock valued at $140,492,000 after buying an additional 1,146,609 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Verona Pharma by 8.5% in the fourth quarter. Jennison Associates LLC now owns 1,889,542 shares of the company’s stock valued at $87,750,000 after acquiring an additional 148,656 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Verona Pharma by 37.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,833,532 shares of the company’s stock valued at $85,150,000 after acquiring an additional 498,338 shares during the period. RTW Investments LP bought a new stake in Verona Pharma during the fourth quarter worth approximately $84,568,000. Finally, Janus Henderson Group PLC raised its holdings in Verona Pharma by 59.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,667,165 shares of the company’s stock worth $77,466,000 after purchasing an additional 624,370 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

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.