Veru (NASDAQ:VERU) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Veru (NASDAQ:VERU) announced its earnings results on Monday. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02, FiscalAI reports.

Veru Price Performance

NASDAQ:VERU opened at $2.33 on Monday. Veru has a 52 week low of $2.05 and a 52 week high of $7.33. The stock’s 50-day moving average price is $2.71 and its 200-day moving average price is $2.50. The stock has a market capitalization of $37.40 million, a PE ratio of -2.62 and a beta of -1.15.

Hedge Funds Weigh In On Veru

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in Veru during the 3rd quarter worth approximately $38,000. XTX Topco Ltd purchased a new position in Veru in the second quarter valued at about $49,000. ADAR1 Capital Management LLC bought a new position in Veru during the fourth quarter worth $75,000. Blair William & Co. IL lifted its stake in Veru by 26.3% in the fourth quarter. Blair William & Co. IL now owns 48,000 shares of the company’s stock valued at $103,000 after buying an additional 10,000 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Veru by 5.5% during the second 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. Institutional investors and hedge funds own 47.16% of the company’s stock.

Wall Street Analyst Weigh In

VERU has been the topic of a number of recent research reports. Weiss Ratings raised Veru from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Veru in a report on Thursday, June 4th. Wall Street Zen raised Veru to a “hold” rating in a research report on Sunday, July 12th. Finally, Oppenheimer cut their price objective on Veru from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Veru presently has an average rating of “Moderate Buy” and an average target price of $23.00.

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.