Veru (NASDAQ:VERU) Issues Quarterly Earnings Results

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

Veru Price Performance

VERU stock opened at $2.33 on Monday. The company has a 50-day simple moving average of $2.71 and a 200 day simple moving average of $2.50. The company has a market capitalization of $37.40 million, a P/E ratio of -2.62 and a beta of -1.15. Veru has a fifty-two week low of $2.05 and a fifty-two week high of $7.33.

Institutional Trading of Veru

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Veru by 5.5% in 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 during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Veru during the 3rd quarter worth about $38,000. Blair William & Co. IL raised its holdings in 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 buying an additional 10,000 shares during the period. Osaic Holdings Inc. lifted its stake in Veru by 11.9% during the second quarter. Osaic Holdings Inc. now owns 262,820 shares of the company’s stock valued at $152,000 after buying an additional 27,954 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Veru in the third quarter worth about $110,000. 47.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Veru Company Profile

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.