Vernalis plc (LON:VER) had its price objective hoisted by investment analysts at Canaccord Genuity from GBX 84 ($1.10) to GBX 88 ($1.15) in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s price target would indicate a potential upside of 112.65% from the company’s current price.
A number of other brokerages have also issued reports on VER. Stifel Nicolaus restated a “buy” rating and set a GBX 94 ($1.23) target price on shares of Vernalis plc in a research report on Friday, July 8th. Panmure Gordon restated a “buy” rating and set a GBX 76 ($0.99) target price on shares of Vernalis plc in a research report on Thursday, September 22nd. N+1 Singer restated a “hold” rating and set a GBX 46 ($0.60) target price on shares of Vernalis plc in a research report on Thursday. Finally, Shore Capital restated a “house stock” rating on shares of Vernalis plc in a research report on Friday, July 8th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Vernalis plc presently has an average rating of “Buy” and a consensus price target of GBX 73 ($0.95).
Shares of Vernalis plc (LON:VER) opened at 41.3832 on Thursday. Vernalis plc has a 12-month low of GBX 31.00 and a 12-month high of GBX 79.00. The firm’s 50-day moving average is GBX 43.63 and its 200-day moving average is GBX 45.70. The firm’s market cap is GBX 184.21 million.
In other news, insider Carol Ferguson purchased 28,000 shares of Vernalis plc stock in a transaction that occurred on Friday, September 30th. The shares were acquired at an average price of GBX 41 ($0.54) per share, for a total transaction of £11,480 ($14,984.99).
About Vernalis plc
Vernalis plc is a commercial-stage pharmaceutical holding company. The Company is engaged in the research, development and commercialization of pharmaceutical products for a range of medical disorders. The Company has two marketed products: Tuzistra XR in the United States prescription cough cold market, and frovatriptan, an acute treatment for migraine.
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