VERONA PHARMA P/S (VRNA) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of VERONA PHARMA P/S (NASDAQ:VRNA) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. The brokerage currently has $7.00 target price on the stock.

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 equities research analysts have also weighed in on VRNA. BTIG Research began coverage on VERONA PHARMA P/S in a research note on Wednesday, April 17th. They issued a buy rating and a $17.00 price objective on the stock. Wedbush reiterated a buy rating on shares of VERONA PHARMA P/S in a research note on Monday, January 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. VERONA PHARMA P/S currently has an average rating of Buy and a consensus target price of $26.50.

VERONA PHARMA P/S stock opened at $6.60 on Tuesday. The company has a market capitalization of $86.64 million, a price-to-earnings ratio of -3.27 and a beta of -1.14. VERONA PHARMA P/S has a 12 month low of $5.52 and a 12 month high of $18.17.

VERONA PHARMA P/S (NASDAQ:VRNA) last posted its quarterly earnings results on Tuesday, February 26th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.15. Equities research analysts expect that VERONA PHARMA P/S will post -2.26 earnings per share for the current year.

A hedge fund recently bought a new stake in VERONA PHARMA P/S stock. Wedbush Securities Inc. acquired a new stake in VERONA PHARMA P/S (NASDAQ:VRNA) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 14,130 shares of the company’s stock, valued at approximately $127,000. Wedbush Securities Inc. owned about 0.11% of VERONA PHARMA P/S as of its most recent filing with the SEC. 57.49% of the stock is owned by hedge funds and other institutional investors.

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

See Also: Oversold

Get a free copy of the Zacks research report on VERONA PHARMA P/S (VRNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for VERONA PHARMA P/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VERONA PHARMA P/S and related companies with MarketBeat.com's FREE daily email newsletter.