VERONA PHARMA P/S (NASDAQ:VRNA) Given New $60.00 Price Target at Wedbush

VERONA PHARMA P/S (NASDAQ:VRNA) had its price target hoisted by Wedbush from $58.00 to $60.00 in a report released on Monday, The Fly reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for VERONA PHARMA P/S’s FY2024 earnings at $0.89 EPS.

Separately, Zacks Investment Research downgraded shares of VERONA PHARMA P/S from a buy rating to a hold rating in a report on Saturday, November 16th. Five analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $29.44.

Shares of NASDAQ VRNA opened at $5.95 on Monday. The company has a 50 day simple moving average of $4.93 and a 200-day simple moving average of $4.56. The company has a market capitalization of $83.08 million, a P/E ratio of -2.95 and a beta of -0.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.07 and a quick ratio of 4.07. VERONA PHARMA P/S has a 1 year low of $3.65 and a 1 year high of $12.89.

VERONA PHARMA P/S (NASDAQ:VRNA) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.89) by ($0.06). As a group, research analysts expect that VERONA PHARMA P/S will post -3.44 EPS for the current year.

An institutional investor recently raised its position in VERONA PHARMA P/S stock. IHT Wealth Management LLC lifted its position in shares of VERONA PHARMA P/S (NASDAQ:VRNA) by 18.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,460 shares of the company’s stock after buying an additional 3,130 shares during the period. IHT Wealth Management LLC owned approximately 0.16% of VERONA PHARMA P/S worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 55.89% of the company’s stock.

VERONA PHARMA P/S Company Profile

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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