Jefferies analyst Andrew Tsai raised the firm’s price target on Verona Pharma (VRNA) to $110 from $95 and keeps a Buy rating on the shares. The firm came away “encouraged by the robust” COPD launch trajectory of Ohtuvayre, which reached $71M in Q1 sales, up from $37M in Q4. Verona’s comments suggest no real slowdown to date, leading Jefferies to wonder if Ohtuvayre’s peak sales could reach $3B-$5B, the analyst tells investors in a research note. The firm also likes that Verona could hit profitability in Q2.
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