Verona Pharma initiated with a Buy at Roth MKM

Roth MKM analyst Boobalan Pachaiyappan initiated coverage of Verona Pharma (VRNA) with a Buy rating and $68 price target The firm says its investment thesis is driven by Ohtuvayre’s, a potential $2.6B drug, “differentiated” mechanism offering bronchodilation and anti-inflammation in a single molecule for chronic obstructive pulmonary disease patients. The firm views Verona as a “dark horse in a crowded landscape.”