Verona Pharma (NASDAQ:VRNA) Given New $36.00 Price Target at HC Wainwright

Verona Pharma (NASDAQ:VRNA) had its price objective lifted by HC Wainwright from $32.00 to $36.00 in a report published on Thursday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages have also commented on VRNA. Piper Sandler raised their price target on Verona Pharma from $31.00 to $36.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Wedbush reiterated an outperform rating and set a $33.00 price target on shares of Verona Pharma in a research report on Friday, March 1st. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $35.00.

Verona Pharma Stock Performance

Shares of Verona Pharma stock opened at $15.44 on Thursday. The company has a quick ratio of 18.40, a current ratio of 18.40 and a debt-to-equity ratio of 0.22. Verona Pharma has a 52-week low of $11.39 and a 52-week high of $23.07. The company has a fifty day moving average of $14.10 and a 200-day moving average of $16.11.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.08). Equities analysts forecast that Verona Pharma will post -1.54 EPS for the current fiscal year.

Insider Activity

In related news, insider Kathleen A. Rickard sold 36,248 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1.96, for a total value of $71,046.08. Following the completion of the transaction, the insider now directly owns 2,621,552 shares in the company, valued at approximately $5,138,241.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Verona Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in VRNA. Cape Investment Advisory Inc. purchased a new stake in shares of Verona Pharma in the 4th quarter worth approximately $40,000. Tower Research Capital LLC TRC grew its stake in shares of Verona Pharma by 950.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,495 shares of the company’s stock worth $89,000 after acquiring an additional 4,067 shares during the last quarter. Jump Financial LLC bought a new position in shares of Verona Pharma during the fourth quarter valued at $226,000. PFG Investments LLC purchased a new position in shares of Verona Pharma in the 4th quarter worth about $354,000. Finally, Matisse Capital bought a new position in Verona Pharma in the 1st quarter worth about $312,000. 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.