Zacks Investment Research Upgrades VERONA PHARMA P/S (VRNA) to Buy

VERONA PHARMA P/S (NASDAQ:VRNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage currently has a $7.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.75% 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. “

Separately, Wedbush set a $56.00 target price on VERONA PHARMA P/S and gave the stock a “buy” rating in a report on Thursday, December 27th.

VERONA PHARMA P/S stock traded down $0.02 during trading on Wednesday, reaching $6.10. The company had a trading volume of 2,225 shares, compared to its average volume of 4,251. VERONA PHARMA P/S has a 52 week low of $5.52 and a 52 week high of $18.20. The stock has a market cap of $80.36 million, a P/E ratio of -3.02 and a beta of -1.17.

VERONA PHARMA P/S (NASDAQ:VRNA) last announced its earnings results on Tuesday, February 26th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.15. As a group, equities research analysts anticipate that VERONA PHARMA P/S will post -2.26 EPS for the current fiscal year.

An institutional investor recently bought a new position in VERONA PHARMA P/S stock. Aisling Capital Management LP purchased a new stake in shares of VERONA PHARMA P/S (NASDAQ:VRNA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 443,596 shares of the company’s stock, valued at approximately $4,281,000. VERONA PHARMA P/S accounts for about 4.5% of Aisling Capital Management LP’s portfolio, making the stock its 9th biggest position. Aisling Capital Management LP owned approximately 3.38% of VERONA PHARMA P/S as of its most recent SEC filing. 57.41% of the stock is currently owned by institutional investors.

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 IIa clinical trials that acts as a bronchodilator and an anti-inflammatory agent for the treatment of chronic obstructive pulmonary disease and cystic fibrosis.

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