Verona Pharma (VRNA) PT Raised to $160 from $76 as Piper Sandler 'Remains Bullish'

Piper Sandler analyst Yasmeen Rahimi raised the price target on Verona Pharma (NASDAQ: VRNA) to $160.00 (from $76.00) while maintaining an Overweight rating.

The analyst commented: "We continue to receive investor inbounds on OHTUVAYRE's continued COPD success, especially following our recent well-attended dinner . Accordingly, our deep dive answers 19 investor questions related to OHTUVAYRE sales expectations, launch progression, value creation, and potential bronchiectasis expansion. VRNA remains one of our top 2025 picks, where Street expects OHTUVAYRE to reach blockbuster status in ~2027 with meaningful growth as it further incorporates into the COPD treatment paradigm. Hence, we updated our model, increasing our PT to $160 (vs $76; #4). Looking at COPD's competitive landscape, biologics remain complementary to OHTUVAYRE treatment and itepekimab's (IL-33) recent failure substantiates the benefit of OHTUVAYRE's broad effect. Thus, we remain bullish on VRNA with strong launch execution and uptake as the benefit of dual bronchodilation/anti-inflammatory effect becomes more apparent in COPD."

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