Oppenheimer & Co. Inc. Lowers Position in Veru Inc. $VERU

Oppenheimer & Co. Inc. reduced its stake in Veru Inc. (NASDAQ:VERU) by 85.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,168 shares of the company’s stock after selling 1,120,853 shares during the period. Oppenheimer & Co. Inc.’s holdings in Veru were worth $730,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atria Investments Inc raised its stake in shares of Veru by 11.5% in the 2nd quarter. Atria Investments Inc now owns 282,281 shares of the company’s stock valued at $164,000 after acquiring an additional 29,025 shares during the period. Allworth Financial LP acquired a new stake in Veru in the 2nd quarter valued at approximately $45,000. Y Intercept Hong Kong Ltd purchased a new stake in Veru in the second quarter valued at approximately $90,000. Sheets Smith Investment Management lifted its stake in Veru by 1,341.9% during the third quarter. Sheets Smith Investment Management now owns 322,084 shares of the company’s stock worth $1,224,000 after purchasing an additional 299,746 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of Veru during the second quarter worth $36,000. Hedge funds and other institutional investors own 47.16% of the company’s stock.

Wall Street Analyst Weigh In

VERU has been the topic of several research analyst reports. Wall Street Zen downgraded Veru from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Canaccord Genuity Group initiated coverage on shares of Veru in a research note on Thursday, December 18th. They set a “buy” rating and a $25.00 price target on the stock. Oppenheimer reissued an “outperform” rating on shares of Veru in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Veru in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Veru has an average rating of “Moderate Buy” and an average price target of $22.50.

Veru Price Performance

VERU stock opened at $2.29 on Tuesday. The business’s 50-day moving average is $2.41 and its two-hundred day moving average is $3.03. The firm has a market capitalization of $36.75 million, a P/E ratio of -1.35 and a beta of -1.42. Veru Inc. has a 1 year low of $2.10 and a 1 year high of $7.40.

Veru (NASDAQ:VERU) last released its earnings results on Wednesday, February 11th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.21. On average, analysts expect that Veru Inc. will post -0.22 EPS for the current year.

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.