Verona Pharma (NASDAQ:VRNA) Given New $36.00 Price Target at Piper Sandler

Verona Pharma (NASDAQ:VRNA) had its price target lifted by Piper Sandler from $31.00 to $36.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 119.51% from the company’s current price.

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

Verona Pharma Trading Up 1.2 %

Shares of VRNA stock opened at $16.40 on Tuesday. The firm has a market cap of $1.33 billion, a P/E ratio of -23.77 and a beta of 0.40. The business has a 50-day moving average price of $16.53 and a two-hundred day moving average price of $16.08. The company has a quick ratio of 33.33, a current ratio of 33.33 and a debt-to-equity ratio of 0.20. Verona Pharma has a 12-month low of $11.83 and a 12-month high of $23.81.

Verona Pharma (NASDAQ:VRNA) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.07. Equities analysts anticipate that Verona Pharma will post -1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC increased its holdings in Verona Pharma by 1.7% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 50,836 shares of the company’s stock valued at $1,011,000 after purchasing an additional 862 shares during the period. D.A. Davidson & CO. increased its holdings in Verona Pharma by 2.8% during the 4th quarter. D.A. Davidson & CO. now owns 33,400 shares of the company’s stock valued at $664,000 after purchasing an additional 900 shares during the period. BNP Paribas Financial Markets increased its holdings in Verona Pharma by 125.3% during the 4th quarter. BNP Paribas Financial Markets now owns 2,028 shares of the company’s stock valued at $40,000 after purchasing an additional 1,128 shares during the period. Geode Capital Management LLC increased its holdings in Verona Pharma by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 32,790 shares of the company’s stock valued at $658,000 after purchasing an additional 1,136 shares during the period. Finally, UBS Group AG increased its holdings in Verona Pharma by 30.3% during the 1st quarter. UBS Group AG now owns 5,432 shares of the company’s stock valued at $109,000 after purchasing an additional 1,263 shares during the period. Hedge funds and other 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.