Fintel reports that on October 3, 2024, Wells Fargo initiated coverage of Verona Pharma plc - Depositary Receipt () (NasdaqGM:VRNA) with a Overweight recommendation.
Analyst Price Forecast Suggests 18.47% Upside
As of September 25, 2024, the average one-year price target for Verona Pharma plc - Depositary Receipt () is $36.50/share. The forecasts range from a low of $31.82 to a high of $39.90. The average price target represents an increase of 18.47% from its latest reported closing price of $30.81 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Verona Pharma plc - Depositary Receipt () is 60MM, an increase of 13,109.17%. The projected annual non-GAAP EPS is -0.82.
What is the Fund Sentiment?
There are 182 funds or institutions reporting positions in Verona Pharma plc - Depositary Receipt (). This is an decrease of 3 owner(s) or 1.62% in the last quarter. Average portfolio weight of all funds dedicated to VRNA is 0.39%, an increase of 7.71%. Total shares owned by institutions decreased in the last three months by 3.51% to 70,869K shares. 
The put/call ratio of VRNA is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
Ra Capital Management holds 7,633K shares. In its prior filing, the firm reported owning 6,318K shares , representing an increase of 17.22%. The firm increased its portfolio allocation in VRNA by 9.02% over the last quarter.
NEA Management Company holds 5,585K shares. In its prior filing, the firm reported owning 5,109K shares , representing an increase of 8.53%. The firm increased its portfolio allocation in VRNA by 8.94% over the last quarter.
Deep Track Capital holds 4,000K shares. In its prior filing, the firm reported owning 3,187K shares , representing an increase of 20.31%. The firm increased its portfolio allocation in VRNA by 17.52% over the last quarter.
Vivo Capital holds 3,550K shares. In its prior filing, the firm reported owning 3,610K shares , representing a decrease of 1.70%. The firm increased its portfolio allocation in VRNA by 3.88% over the last quarter.
Frazier Life Sciences Management holds 3,314K shares. In its prior filing, the firm reported owning 3,014K shares , representing an increase of 9.05%. The firm increased its portfolio allocation in VRNA by 9.55% over 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.
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