Verona Pharma price target raised to $45 from $38 at Jefferies

Jefferies raised the firm’s price target on Verona Pharma (VRNA) to $45 from $38 and keeps a Buy rating on the shares. Ohtuvayre reported Q3 sales of $5.6M beat the sell-side consensus of $2M and based on the novel mechanism of action, management’s confident tone on Q4 and 2025 and the firm’s positive checks, Jefferies expect sales momentum to accelerate further, adding visibility to “a potential blockbuster COPD drug,” the analyst tells investors.