Veru (NASDAQ:VERU) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Veru (NASDAQ:VERU) in a report published on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $25.00 price target on the stock.

Several other equities research analysts have also recently weighed in on VERU. Oppenheimer reiterated an “outperform” rating on shares of Veru in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Veru in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Veru presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Veru Stock Performance

NASDAQ:VERU opened at $2.32 on Thursday. The company has a market capitalization of $37.24 million, a PE ratio of -1.05 and a beta of -1.01. Veru has a fifty-two week low of $2.11 and a fifty-two week high of $14.20. The company has a 50 day simple moving average of $2.89 and a two-hundred day simple moving average of $4.07.

Hedge Funds Weigh In On Veru

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atria Investments Inc raised its stake in shares of Veru by 11.5% during the second quarter. Atria Investments Inc now owns 282,281 shares of the company’s stock worth $164,000 after purchasing an additional 29,025 shares during the last quarter. Allworth Financial LP purchased a new stake in Veru in the 2nd quarter worth approximately $45,000. Y Intercept Hong Kong Ltd purchased a new stake in Veru in the second quarter valued at approximately $90,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Veru in the second quarter worth $36,000. Finally, Sheets Smith Investment Management raised its holdings in shares of Veru by 1,341.9% during the 3rd quarter. Sheets Smith Investment Management now owns 322,084 shares of the company’s stock valued at $1,224,000 after buying an additional 299,746 shares during the period. Institutional investors and hedge funds own 47.16% of the company’s stock.

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.