Verona Pharma price target raised to $77 from $51 at BTIG

BTIG raised the firm’s price target on Verona Pharma (VRNA) to $77 from $51 and keeps a Buy rating on the shares. The company’s Q4 pre-announcement was “impressive”, with Ohtuvayre revenue outlook reflecting the firm’s view that getting patients on Medicare Part B drugs is much easier than getting them in Medicare Part D drugs, the analyst tells investors in a research note. Even more important for the long term was the reported data point that 150 physicians now have written the drug for more than 20 of their patients, with more doctors adding Ohtuvayre to a new patient’s regimen as they come in for scheduled visits and report a lack of control of their COPD symptoms, the firm added.