VERONA PHARMA P/S (NASDAQ:VRNA) has been given a $58.00 target price by investment analysts at Wedbush in a note issued to investors on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the stock.

A number of other analysts also recently issued reports on VRNA. Zacks Investment Research downgraded VERONA PHARMA P/S from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. BTIG Research initiated coverage on VERONA PHARMA P/S in a research report on Wednesday, April 17th. They issued a “buy” rating and a $17.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $27.00.

VRNA traded up $0.03 during trading on Monday, reaching $5.95. The company had a trading volume of 4,900 shares, compared to its average volume of 9,348. The company has a market cap of $76.39 million, a PE ratio of -2.95 and a beta of -1.14. VERONA PHARMA P/S has a 52 week low of $5.52 and a 52 week high of $17.16.

VERONA PHARMA P/S (NASDAQ:VRNA) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.04. On average, sell-side analysts anticipate that VERONA PHARMA P/S will post -2.33 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of VRNA. venBio Partners LLC bought a new stake in VERONA PHARMA P/S in the first quarter worth $5,688,000. Aisling Capital Management LP bought a new stake in shares of VERONA PHARMA P/S during the fourth quarter worth $4,281,000. IHT Wealth Management LLC bought a new stake in shares of VERONA PHARMA P/S during the first quarter worth $113,000. Wedbush Securities Inc. bought a new stake in shares of VERONA PHARMA P/S during the fourth quarter worth $127,000. Finally, Renaissance Technologies LLC bought a new stake in shares of VERONA PHARMA P/S during the first quarter worth $76,000. Institutional investors own 57.49% 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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