Cantor Fitzgerald has initiated coverage on Verona Pharma (VRNA, Financial), assigning it an Overweight rating and setting a target price of $80. The firm regards Verona as a standout entity within the biotech sector, particularly due to the promising trajectory of Ohtuvayre's launch for treating chronic obstructive pulmonary disease (COPD).
The analyst expressed optimism about Ohtuvayre's market performance, indicating that initial sales are robust and the product's momentum is expected to build significantly. While current expectations position Ohtuvayre's peak sales at $2 billion, Cantor Fitzgerald projects a much higher potential, estimating peak sales could reach up to $3.5 billion. This projection notably exceeds the general consensus, which anticipates around $3 billion.
Additionally, the firm highlighted confidence in ensifentrine, underscoring its promising mechanistic and biological potential for treating bronchitis. This endorsement from Cantor Fitzgerald underscores Verona Pharma's strategic positioning and potential for substantial growth in the biotech industry.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Verona Pharma PLC (VRNA, Financial) is $80.33 with a high estimate of $93.00 and a low estimate of $72.00. The average target implies an upside of 36.34% from the current price of $58.92. More detailed estimate data can be found on the Verona Pharma PLC (VRNA) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Verona Pharma PLC's (VRNA, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
