Verona Pharma (NASDAQ:VRNA) Given New $38.00 Price Target at Truist Financial

Verona Pharma (NASDAQ:VRNA) had its price target upped by Truist Financial from $32.00 to $38.00 in a research report report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Piper Sandler raised their price target on Verona Pharma from $31.00 to $36.00 and gave the company an overweight rating in a report on Tuesday, April 16th. Canaccord Genuity Group reissued a buy rating and set a $35.00 price target on shares of Verona Pharma in a report on Thursday. Wedbush reissued an outperform rating and set a $33.00 price target on shares of Verona Pharma in a report on Friday, March 1st. Finally, HC Wainwright raised their price target on Verona Pharma from $32.00 to $36.00 and gave the company a buy rating in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Verona Pharma currently has a consensus rating of Buy and a consensus target price of $35.60.

Verona Pharma Price Performance

VRNA stock opened at $14.46 on Friday. The company has a current ratio of 18.40, a quick ratio of 18.40 and a debt-to-equity ratio of 0.22. Verona Pharma has a 1 year low of $11.39 and a 1 year high of $23.07. The stock’s fifty day moving average is $14.07 and its two-hundred day moving average is $16.12.

Verona Pharma (NASDAQ:VRNA) last posted its earnings results on Thursday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08). As a group, research analysts forecast that Verona Pharma will post -1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kathleen A. Rickard sold 36,248 shares of Verona Pharma stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $1.96, for a total transaction of $71,046.08. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verona Pharma

Institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Verona Pharma by 95.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 426,931 shares of the company’s stock valued at $6,959,000 after buying an additional 208,100 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Verona Pharma by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 504,742 shares of the company’s stock valued at $10,034,000 after acquiring an additional 86,809 shares in the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Verona Pharma by 53.1% in the 4th quarter. Affinity Asset Advisors LLC now owns 563,824 shares of the company’s stock valued at $11,209,000 after acquiring an additional 195,495 shares in the last quarter. First Turn Management LLC bought a new position in shares of Verona Pharma in the 4th quarter valued at approximately $23,981,000. Finally, Clearbridge Investments LLC bought a new position in shares of Verona Pharma in the 4th quarter valued at approximately $4,949,000. 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.