Fintel reports that on September 11, 2023, HC Wainwright & Co. reiterated coverage of Verona Pharma Plc - ADR (NASDAQ:VRNA) with a Buy recommendation.
Analyst Price Forecast Suggests 69.73% Upside
As of August 31, 2023, the average one-year price target for Verona Pharma Plc - ADR is 33.37. The forecasts range from a low of 30.30 to a high of $39.90. The average price target represents an increase of 69.73% from its latest reported closing price of 19.66.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Verona Pharma Plc - ADR is 22MM, an increase of 4,681.88%. The projected annual non-GAAP EPS is -0.97.
What is the Fund Sentiment?
There are 161 funds or institutions reporting positions in Verona Pharma Plc - ADR. This is an increase of 16 owner(s) or 11.03% in the last quarter. Average portfolio weight of all funds dedicated to VRNA is 0.57%, a decrease of 33.76%. Total shares owned by institutions increased in the last three months by 2.35% to 66,311K shares. 
The put/call ratio of VRNA is 0.34, indicating a bullish outlook.
What are Other Shareholders Doing?
Ra Capital Management holds 6,318K shares representing 7.95% ownership of the company. No change in the last quarter.
NEA Management Company holds 5,109K shares representing 6.43% ownership of the company. In it's prior filing, the firm reported owning 5,585K shares, representing a decrease of 9.32%. The firm increased its portfolio allocation in VRNA by 16.26% over the last quarter.
Perceptive Advisors holds 4,397K shares representing 5.53% ownership of the company. In it's prior filing, the firm reported owning 2,734K shares, representing an increase of 37.83%. The firm increased its portfolio allocation in VRNA by 66.01% over the last quarter.
Wellington Management Group Llp holds 4,303K shares representing 5.41% ownership of the company. In it's prior filing, the firm reported owning 3,291K shares, representing an increase of 23.51%. The firm increased its portfolio allocation in VRNA by 31.35% over the last quarter.
Vivo Capital holds 4,250K shares representing 5.35% ownership of the company. No change in the last quarter.
Verona Pharma Background Information
(This description is provided by the company.)
Verona Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of respiratory diseases with significant unmet medical needs. If successfully developed and approved, Verona Pharma's product candidate, ensifentrine, has the potential to be the first therapy for the treatment of respiratory diseases that combines bronchodilator and anti-inflammatory activities in one compound. The Company is evaluating nebulized ensifentrine in its Phase 3 clinical program ENHANCE ('Ensifentrine as a Novel inHAled Nebulized COPD thErapy') for COPD maintenance treatment. The Company raised gross proceeds of $200 million through a private placement in July 2020 and expects the funds to support its operations and Phase 3 clinical program into 2023. Two additional formulations of ensifentrine are currently in Phase 2 development for the treatment of COPD: dry powder inhaler ('DPI') and pressurized metered-dose inhaler ('pMDI'). Ensifentrine is being evaluated in a pilot clinical study in patients hospitalized with COVID-19 and has potential applications in cystic fibrosis, asthma and other respiratory diseases.
Additional reading:
- [Signature Page(s) Follow]
- Verona Pharma Reports Second Quarter 2023 Financial Results and Provides Corporate Update NDA submitted to US FDA for ensifentrine for maintenance treatment of COPD Phase 3 ENHANCE data published in the American Journal of Respiratory and Critical Ca
- Verona Pharma Reports First Quarter 2023 Financial Results and Provides Corporate Update NDA submission on schedule for Q2 2023 12 abstracts and one symposium expanding on successful Phase 3 ENHANCE data to be presented at American Thoracic Society 2
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