Truist Financial Increases Verona Pharma (NASDAQ:VRNA) Price Target to $44.00

Verona Pharma (NASDAQ:VRNA) had its price objective boosted by equities researchers at Truist Financial from $38.00 to $44.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 39.68% from the stock’s current price.

A number of other analysts have also recently weighed in on VRNA. Canaccord Genuity Group upped their price target on Verona Pharma from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company assumed coverage on Verona Pharma in a report on Thursday, October 3rd. They issued an “overweight” rating and a $50.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Verona Pharma in a report on Tuesday, October 1st. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Verona Pharma has an average rating of “Buy” and an average target price of $39.33.

Verona Pharma Trading Down 0.8 %

Shares of VRNA stock traded down $0.27 during mid-day trading on Wednesday, reaching $31.50. The company’s stock had a trading volume of 234,321 shares, compared to its average volume of 911,200. The company has a quick ratio of 8.61, a current ratio of 8.61 and a debt-to-equity ratio of 0.72. Verona Pharma has a 12-month low of $11.39 and a 12-month high of $32.88. The firm has a market capitalization of $2.56 billion, a PE ratio of -40.91 and a beta of 0.44. The company’s 50 day simple moving average is $27.24 and its 200-day simple moving average is $19.93.

Verona Pharma (NASDAQ:VRNA) last issued its earnings results 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 previous year, the business earned ($0.11) earnings per share. On average, research analysts predict that Verona Pharma will post -2.07 EPS for the current fiscal year.

Institutional Trading of Verona Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNA. CWM LLC bought a new stake in Verona Pharma during the second quarter valued at about $29,000. EMC Capital Management acquired a new stake in shares of Verona Pharma during the second quarter worth $38,000. GAMMA Investing LLC grew its stake in Verona Pharma by 70.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after purchasing an additional 553 shares during the last quarter. Legato Capital Management LLC acquired a new position in Verona Pharma in the 2nd quarter worth approximately $154,000. Finally, Marshall Wace LLP acquired a new position in Verona Pharma during the second quarter valued at $195,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

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.