Veru (NASDAQ:VERU) Rating Increased to Hold at Wall Street Zen

Veru (NASDAQ:VERU) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a report released on Sunday.

A number of other brokerages have also recently weighed in on VERU. Canaccord Genuity Group restated a “buy” rating and issued a $25.00 price objective on shares of Veru in a report on Thursday, June 4th. Oppenheimer dropped their price objective on Veru from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Veru from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Veru currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Veru Trading Down 1.1%

Veru stock traded down $0.03 during midday trading on Friday, hitting $2.78. 164,751 shares of the stock were exchanged, compared to its average volume of 351,490. Veru has a fifty-two week low of $2.05 and a fifty-two week high of $7.33. The stock has a market capitalization of $44.62 million, a price-to-earnings ratio of -3.12 and a beta of -1.19. The stock’s 50-day simple moving average is $2.69 and its 200 day simple moving average is $2.50.

Veru (NASDAQ:VERU) last posted its earnings results on Wednesday, May 13th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.15. Equities analysts anticipate that Veru will post -1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Veru

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Veru by 69.3% during the first quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock valued at $27,000 after buying an additional 5,008 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Veru by 3.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 197,876 shares of the company’s stock valued at $423,000 after buying an additional 5,708 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Veru by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 185,669 shares of the company’s stock valued at $108,000 after purchasing an additional 9,637 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Veru during the third quarter worth approximately $38,000. Finally, Blair William & Co. IL boosted its stake in shares of Veru by 26.3% during the 4th quarter. Blair William & Co. IL now owns 48,000 shares of the company’s stock worth $103,000 after acquiring an additional 10,000 shares in the last quarter. 47.16% of the stock is currently owned by hedge funds and other institutional investors.

About Veru

Veru Inc is a clinical-stage biopharmaceutical company headquartered in Miami, Florida. The company is dedicated to the development and commercialization of novel therapies in the fields of oncology and infectious disease. Veru’s research strategy centers on advancing small-molecule and biologic candidates through clinical trials, leveraging its in-house manufacturing and formulation capabilities as well as strategic partnerships to support late-stage development.

The company’s lead product candidate is sabizabulin (VERU-111), an oral, microtubule-disrupting agent undergoing pivotal trials for indications that include metastatic castration-resistant prostate cancer and hospitalized patients with severe COVID-19.