VERONA PHARMA P/S (NASDAQ:VRNA) Upgraded to Buy by Zacks Investment Research

VERONA PHARMA P/S (NASDAQ:VRNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The firm currently has a $6.75 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.32% from the company’s current price.

According to Zacks, “Verona Pharma plc is a clinical-stage biopharmaceutical company. It researches, discovers and develops therapeutic drugs to treat respiratory diseases primarily in the United Kingdom and North America. Verona Pharma plc is based in London, the United Kingdom. “

Several other research firms have also commented on VRNA. Wedbush increased their target price on shares of VERONA PHARMA P/S from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. SunTrust Banks increased their target price on shares of VERONA PHARMA P/S from $29.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a buy rating, VERONA PHARMA P/S currently has an average rating of “Buy” and an average target price of $29.44.

Shares of VRNA stock traded down $0.82 on Tuesday, hitting $6.41. 517,301 shares of the company’s stock traded hands, compared to its average volume of 371,904. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.07 and a current ratio of 4.07. VERONA PHARMA P/S has a one year low of $3.65 and a one year high of $12.89. The company’s fifty day simple moving average is $4.84 and its 200 day simple moving average is $4.55. The stock has a market capitalization of $78.47 million, a price-to-earnings ratio of -3.17 and a beta of -0.78.

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

A hedge fund recently raised its stake in VERONA PHARMA P/S stock. IHT Wealth Management LLC boosted its position in VERONA PHARMA P/S (NASDAQ:VRNA) by 18.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,460 shares of the company’s stock after acquiring an additional 3,130 shares during the period. IHT Wealth Management LLC owned 0.16% of VERONA PHARMA P/S worth $94,000 at the end of the most recent reporting period. Institutional investors own 55.89% 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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