Verona Pharma (NASDAQ:VRNA) Trading Up 5.8% – Should You Buy?

Verona Pharma plc (NASDAQ:VRNA) was up 5.8% on Wednesday . The company traded as high as $66.93 and last traded at $66.32. Approximately 111,899 shares traded hands during trading, a decline of 93% from the average daily volume of 1,513,236 shares. The stock had previously closed at $62.70.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VRNA shares. Canaccord Genuity Group increased their price target on shares of Verona Pharma from $44.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. HC Wainwright boosted their target price on shares of Verona Pharma from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Roth Capital set a $83.00 price target on shares of Verona Pharma in a research note on Friday, February 28th. Roth Mkm began coverage on shares of Verona Pharma in a research report on Friday, January 10th. They issued a “buy” rating and a $68.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Verona Pharma from $74.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Verona Pharma currently has a consensus rating of “Buy” and an average price target of $69.14.

Verona Pharma Stock Up 8.4 %

The business’s 50 day moving average price is $57.72 and its 200-day moving average price is $43.03. The firm has a market capitalization of $5.49 billion, a PE ratio of -35.32 and a beta of 0.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Institutional Trading of Verona Pharma

Large investors have recently bought and sold shares of the business. Atria Investments Inc purchased a new position in Verona Pharma during the 3rd quarter worth $548,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Verona Pharma in the third quarter worth approximately $465,000. GSA Capital Partners LLP acquired a new position in Verona Pharma during the third quarter valued at approximately $849,000. Claro Advisors LLC purchased a new stake in shares of Verona Pharma during the third quarter valued at approximately $209,000. Finally, First Turn Management LLC bought a new stake in shares of Verona Pharma in the third quarter worth $16,483,000. Institutional investors and hedge funds 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.