VERONA PHARMA P/S (NASDAQ:VRNA) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totalling 25,800 shares, a decline of 36.0% from the February 27th total of 40,300 shares. Based on an average daily trading volume, of 26,600 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.3% of the company’s stock are sold short.
Shares of VRNA stock opened at $4.15 on Friday. VERONA PHARMA P/S has a 1-year low of $2.01 and a 1-year high of $12.89. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $47.53 million, a price-to-earnings ratio of -1.35 and a beta of -0.75. The stock’s fifty day simple moving average is $5.49 and its 200-day simple moving average is $4.93.
A number of brokerages have recently weighed in on VRNA. Zacks Investment Research upgraded VERONA PHARMA P/S from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Thursday, March 12th. Wedbush reiterated a “buy” rating and set a $60.00 price target on shares of VERONA PHARMA P/S in a report on Friday, February 28th. ValuEngine upgraded VERONA PHARMA P/S from a “hold” rating to a “buy” rating in a report on Monday, March 9th. Finally, SunTrust Banks lifted their price target on VERONA PHARMA P/S from $29.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Five research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $29.19.
Several hedge funds have recently modified their holdings of the company. Wedbush Securities Inc. grew its holdings in shares of VERONA PHARMA P/S by 167.5% during the fourth quarter. Wedbush Securities Inc. now owns 81,100 shares of the company’s stock valued at $466,000 after buying an additional 50,785 shares in the last quarter. IHT Wealth Management LLC grew its stake in VERONA PHARMA P/S by 18.1% in the third quarter. IHT Wealth Management LLC now owns 20,460 shares of the company’s stock valued at $94,000 after purchasing an additional 3,130 shares in the last quarter. Renaissance Technologies LLC purchased a new position in VERONA PHARMA P/S in the fourth quarter valued at about $72,000. Finally, UBS Group AG grew its stake in VERONA PHARMA P/S by 801.8% in the fourth quarter. UBS Group AG now owns 10,055 shares of the company’s stock valued at $58,000 after purchasing an additional 8,940 shares in the last quarter. Institutional investors and hedge funds own 55.80% of the company’s stock.
About VERONA PHARMA P/S
Verona Pharma plc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics to treat respiratory diseases. The company's product candidate is RPL554, an inhaled dual inhibitor of the enzymes phosphodiesterase 3 and 4, which has completed Phase I and II clinical trials that acts as a bronchodilator and an anti-inflammatory agent for the treatment of chronic obstructive pulmonary disease, cystic fibrosis, chronic asthma, and allergic rhinitis.
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