Verona Pharma PLC American Depositary Share’s (VRNA) “Buy” Rating Reiterated at Wedbush

Wedbush restated their buy rating on shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) in a research note issued to investors on Friday morning. The brokerage currently has a $33.00 target price on the stock.

Separately, Zacks Investment Research cut Verona Pharma PLC American Depositary Share from a hold rating to a sell rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $24.20.

Shares of Verona Pharma PLC American Depositary Share (NASDAQ:VRNA) opened at $11.38 on Friday. Verona Pharma PLC American Depositary Share has a 12 month low of $10.44 and a 12 month high of $17.50.

Several institutional investors have recently added to or reduced their stakes in the stock. Vivo Capital LLC purchased a new stake in shares of Verona Pharma PLC American Depositary Share during the second quarter valued at $8,208,000. Tekla Capital Management LLC bought a new position in Verona Pharma PLC American Depositary Share in the second quarter valued at about $3,211,000. Finally, FIL Ltd bought a new position in Verona Pharma PLC American Depositary Share in the second quarter valued at about $873,000. 40.27% of the stock is currently owned by institutional investors.

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About Verona Pharma PLC American Depositary Share

Verona Pharma plc, a clinical stage biopharmaceutical company, researches, discovers, and develops therapeutic drugs to treat respiratory diseases primarily in the United Kingdom and North America. The company’s lead product is RPL554, an inhaled dual inhibitor of the enzymes phosphodiesterase 3 and 4, which is in Phase IIa clinical trial that acts as a bronchodilator and an anti-inflammatory agent for the treatment of chronic obstructive pulmonary disease, cystic fibrosis, and asthma.

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