Roth Capital raised the firm’s price target on Verona Pharma (VRNA) to $116 from $92 and keeps a Buy rating on the shares after hosting a key opinion leader webinar with Dr. Frank Sciurba to discuss the unmet needs in the chronic obstructive pulmonary disease space. Sciurba provided “upbeat views” about Verona’s Ohtuvayre and believes the agent is complementary to recently approved biologics, the analyst tells investors in a research note. The firm says the growing appreciation for Ohtuvayre’s “differentiated” efficacy-risk profile in an “attractive, large” COPD market and higher than expected investor interest in the company’s stock drove the price target increase.
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