Verona surges as brokerages raise PT after positive drug trial results

Verona Pharma

21/12/2022 19:08

** Shares of drug developer Verona Pharma Plc  VRNA.O  surge
~22% to $22.71 as brokerages raise PT on co
    ** Co said on Tuesday its respiratory drug saw positive
late-stage trial results 
    ** Co's ENHANCE-1 drug treats chronic obstructive pulmonary
disease (COPD); it is the first drug that inhibits two crucial
enzymes which helps treat the condition
    ** Brokerage H. C. Wainwright raises PT on co to $32 from
$30; maintains 'buy' rating 
    ** Says co's drug has the potential to treat 1.2 mln U.S.
patients in the initial stages of COPD
    ** At least three other brokerages, including Truist,
Jefferies and Wedbush, raise their PTs
    ** Stock more than tripled in value YTD
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))