Verona Pharma (NASDAQ:VRNA) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Verona Pharma (NASDAQ:VRNA - Get Free Report) in a note issued to investors on Monday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $80.00 price target on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 22.21% from the stock's current price. Cantor Fitzgerald also issued estimates for Verona Pharma's FY2025 earnings at $0.11 EPS.

Several other brokerages have also recently issued reports on VRNA. Canaccord Genuity Group lifted their target price on Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. HC Wainwright increased their target price on Verona Pharma from $60.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Roth Capital set a $83.00 target price on Verona Pharma in a report on Friday, February 28th. Roth Mkm began coverage on Verona Pharma in a report on Friday, January 10th. They set a "buy" rating and a $68.00 price target on the stock. Finally, Truist Financial reaffirmed a "buy" rating and set a $57.00 price objective (up from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $75.43.

Verona Pharma Price Performance

VRNA traded up $0.68 during trading on Monday, reaching $65.46. 766,895 shares of the company traded hands, compared to its average volume of 1,226,537. Verona Pharma has a 12-month low of $11.39 and a 12-month high of $70.40. The firm has a fifty day simple moving average of $62.40 and a 200 day simple moving average of $50.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03. The company has a market cap of $5.29 billion, a P/E ratio of -34.09 and a beta of 0.16.

Insider Activity at Verona Pharma

In related news, insider Kathleen A. Rickard sold 79,264 shares of Verona Pharma stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $8.35, for a total value of $661,854.40. Following the completion of the sale, the insider now directly owns 2,608,976 shares in the company, valued at $21,784,949.60. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in shares of Verona Pharma in the 1st quarter worth approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in Verona Pharma during the fourth quarter worth $46,000. GF Fund Management CO. LTD. bought a new stake in Verona Pharma during the 4th quarter valued at $72,000. GAMMA Investing LLC increased its holdings in shares of Verona Pharma by 20.7% in the 4th quarter. GAMMA Investing LLC now owns 1,612 shares of the company's stock valued at $75,000 after acquiring an additional 276 shares during the period. Finally, Avanza Fonder AB purchased a new position in shares of Verona Pharma in the 1st quarter valued at $100,000. 85.88% of the stock is currently 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.