Veru (NASDAQ:VERU) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Veru (NASDAQ:VERU) from a hold rating to a sell rating in a research note released on Saturday.

A number of other brokerages also recently weighed in on VERU. Oppenheimer cut their price target on shares of Veru from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Weiss Ratings raised shares of Veru from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $25.00 target price on shares of Veru in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.50.

Veru Stock Performance

VERU opened at $2.63 on Friday. The company has a market capitalization of $44.84 million, a PE ratio of -2.96 and a beta of -1.15. The stock’s fifty day moving average is $2.69 and its 200-day moving average is $2.50. Veru has a one year low of $2.05 and a one year high of $7.33.

Veru (NASDAQ:VERU) last announced its earnings results on Monday, August 10th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. On average, equities research analysts forecast that Veru will post -1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VERU. Northwestern Mutual Wealth Management Co. acquired a new position in Veru during the third quarter valued at $38,000. Royal Bank of Canada boosted its position in Veru by 69.3% during the 1st quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock worth $27,000 after acquiring an additional 5,008 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Veru during the 3rd quarter worth about $110,000. ADAR1 Capital Management LLC purchased a new position in Veru during the 4th quarter valued at about $75,000. Finally, Blair William & Co. IL grew its stake in Veru by 26.3% during the 4th quarter. Blair William & Co. IL now owns 48,000 shares of the company’s stock valued at $103,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors 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.