Verona Pharma (VRNA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Edward Nash from Canaccord Genuity maintained a Buy rating on the stock and has a $72.00 price target.
Edward Nash has given his Buy rating due to a combination of factors that highlight Verona Pharma’s strong market position and growth potential. The company’s product, Ohtuvayre, has shown impressive sales performance, surpassing expectations in its first full quarter on the market. This strong uptake is expected to continue, with an increase in projected sales for 2025.
Additionally, the drug’s unique mechanism and the large COPD patient population contribute to its anticipated success. Verona Pharma’s strategic plans to expand Ohtuvayre’s reach into the EU and UK markets, along with ongoing developments in Greater China, further support the positive outlook. These factors collectively underpin the Buy rating and the $72 price target set by Nash.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $83.00 price target.
VRNA’s price has also changed dramatically for the past six months – from $27.170 to $67.120, which is a 147.04% increase.