Verona Pharma (NASDAQ:VRNA) PT Raised to $36.00 at Piper Sandler

Verona Pharma (NASDAQ:VRNA) had its price target raised by equities researchers at Piper Sandler from $31.00 to $36.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 127.85% from the company’s previous close.

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

Verona Pharma Stock Performance

NASDAQ VRNA opened at $15.80 on Tuesday. 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 business’s 50 day moving average is $16.55 and its two-hundred day moving average is $16.08. Verona Pharma has a 12-month low of $11.83 and a 12-month high of $23.81. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -22.90 and a beta of 0.41.

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

Institutional Investors Weigh In On Verona Pharma

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

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.