Verona Pharma (NASDAQ:VRNA) Price Target Increased to $36.00 by Analysts at Piper Sandler

Verona Pharma (NASDAQ:VRNA) had its price target raised by Piper Sandler from $31.00 to $36.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also issued reports on VRNA. Wedbush reaffirmed an outperform rating and set a $33.00 price target on shares of Verona Pharma in a report on Friday, March 1st. HC Wainwright reissued a buy rating and set a $32.00 target price on shares of Verona Pharma in a report on Monday, March 4th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $33.60.

Verona Pharma Trading Up 2.5 %

Shares of Verona Pharma stock opened at $16.20 on Tuesday. The firm has a market capitalization of $1.31 billion, a PE ratio of -23.48 and a beta of 0.41. The company has a current ratio of 33.33, a quick ratio of 33.33 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $16.53 and its 200 day moving average is $16.08. Verona Pharma has a 1 year low of $11.83 and a 1 year high of $23.81.

Verona Pharma (NASDAQ:VRNA) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.07. Equities research analysts forecast that Verona Pharma will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verona Pharma

A number of institutional investors have recently modified their holdings of VRNA. First Turn Management LLC bought a new stake in shares of Verona Pharma in the 4th quarter valued at $23,981,000. Eventide Asset Management LLC acquired a new position in shares of Verona Pharma during the 3rd quarter valued at $13,855,000. Federated Hermes Inc. lifted its position in shares of Verona Pharma by 49.3% during the 3rd quarter. Federated Hermes Inc. now owns 2,493,530 shares of the company’s stock valued at $40,645,000 after acquiring an additional 822,832 shares during the period. State Street Corp acquired a new position in shares of Verona Pharma during the 3rd quarter valued at $4,234,000. Finally, Citigroup Inc. acquired a new position in shares of Verona Pharma during the 1st quarter valued at $1,841,000. 85.88% of the stock is owned by institutional investors.

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.