Verona Pharma (NASDAQ:VRNA) Price Target Raised to $90.00 at HC Wainwright

Verona Pharma (NASDAQ:VRNA - Get Free Report) had its price target boosted by equities research analysts at HC Wainwright from $85.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 6.12% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Cowen assumed coverage on Verona Pharma in a research report on Monday, April 28th. They set a "buy" rating on the stock. TD Cowen initiated coverage on shares of Verona Pharma in a report on Monday, April 28th. They set a "buy" rating and a $100.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price target on Verona Pharma from $93.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald began coverage on shares of Verona Pharma in a research report on Monday, April 21st. They set an "overweight" rating and a $80.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Verona Pharma presently has an average rating of "Buy" and an average target price of $82.13.

Verona Pharma Stock Up 0.8%

Shares of VRNA traded up $0.71 during mid-day trading on Monday, hitting $84.81. 1,838,843 shares of the company traded hands, compared to its average volume of 1,318,074. Verona Pharma has a 1-year low of $11.79 and a 1-year high of $85.27. The business has a 50 day moving average of $65.98 and a 200 day moving average of $57.49. The company has a quick ratio of 12.88, a current ratio of 13.03 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.88 billion, a PE ratio of -44.17 and a beta of 0.20.

Verona Pharma (NASDAQ:VRNA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.49. The company had revenue of $98.65 million for the quarter, compared to analyst estimates of $41.47 million. Equities research analysts anticipate that Verona Pharma will post -1.95 EPS for the current year.

Insider Activity

In related news, insider Kathleen A. Rickard sold 79,264 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $8.35, for a total transaction of $661,854.40. Following the completion of the transaction, the insider now owns 2,608,976 shares of the company's stock, valued at approximately $21,784,949.60. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew Fisher sold 26,072 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $8.98, for a total transaction of $234,126.56. Following the transaction, the general counsel now directly owns 359,993 shares in the company, valued at approximately $3,232,737.14. The trade was a 6.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,165,064 shares of company stock worth $10,676,335. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Verona Pharma

Several hedge funds have recently bought and sold shares of VRNA. Renaissance Technologies LLC acquired a new stake in shares of Verona Pharma during the 4th quarter worth about $720,000. Values First Advisors Inc. grew its holdings in Verona Pharma by 36.9% during the fourth quarter. Values First Advisors Inc. now owns 23,505 shares of the company's stock worth $1,092,000 after acquiring an additional 6,331 shares during the period. Choreo LLC acquired a new stake in Verona Pharma in the fourth quarter valued at $230,000. Legato Capital Management LLC lifted its position in shares of Verona Pharma by 132.9% in the fourth quarter. Legato Capital Management LLC now owns 24,853 shares of the company's stock valued at $1,154,000 after acquiring an additional 14,183 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Verona Pharma by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 67,126 shares of the company's stock worth $3,117,000 after acquiring an additional 14,362 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

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.