Veru (NASDAQ:VERU) Rating Lowered to “Strong Sell” at Wall Street Zen

Veru (NASDAQ:VERU) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings cut Veru from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. Oppenheimer reiterated an “outperform” rating on shares of Veru in a report on Wednesday, October 14th. Finally, Westpark Capital assumed coverage on shares of Veru in a report on Tuesday, October 6th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.50.

Veru Price Performance

Shares of Veru stock opened at $2.19 on Friday. Veru has a 52 week low of $2.04 and a 52 week high of $7.33. The business has a 50 day moving average price of $2.40 and a 200-day moving average price of $2.49.

Veru (NASDAQ:VERU) last announced its earnings results on Monday, August 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.02. As a group, equities research analysts expect that Veru will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Veru

Several institutional investors have recently added to or reduced their stakes in VERU. FNY Investment Advisers LLC purchased a new stake in Veru during the second quarter worth about $328,000. Renaissance Technologies LLC purchased a new position in Veru in the first quarter valued at about $153,000. Finally, Royal Bank of Canada boosted its stake in Veru by 69.3% in the first quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock valued at $27,000 after acquiring an additional 5,008 shares during the last quarter. Institutional investors own 47.16% of the company’s stock.

About Veru

Veru Inc is a biopharmaceutical company focused on developing medicines for oncology and metabolic diseases. The company’s pipeline includes therapies intended to address cancer-related muscle wasting, obesity, and other conditions associated with the loss of lean body mass and physical function.

Veru’s principal investigational product is enobosarm, an oral selective androgen receptor modulator being studied for its potential to preserve or increase muscle mass and improve physical function in patients with cancer-related wasting and obesity.