Oppenheimer Lowers Veru (NASDAQ:VERU) Price Target to $24.00

Veru (NASDAQ:VERU) had its price target reduced by research analysts at Oppenheimer from $25.00 to $24.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock.

A number of other research firms also recently weighed in on VERU. Wall Street Zen downgraded Veru from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veru in a research report on Monday, April 20th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Veru Stock Down 0.5%

Shares of NASDAQ:VERU opened at $2.08 on Friday. The firm has a fifty day moving average of $2.34 and a two-hundred day moving average of $2.44. The firm has a market capitalization of $33.38 million, a P/E ratio of -1.65 and a beta of -1.19. Veru has a 12-month low of $2.05 and a 12-month high of $7.40.

Veru (NASDAQ:VERU) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.15. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $1.90 million. Equities research analysts expect that Veru will post -1.43 earnings per share for the current fiscal year.

Institutional Trading of Veru

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in shares of Veru during the 3rd quarter worth about $38,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Veru in the third quarter valued at about $47,000. XTX Topco Ltd bought a new stake in shares of Veru in the second quarter valued at about $49,000. ADAR1 Capital Management LLC acquired a new stake in Veru during the fourth quarter worth about $75,000. Finally, Blair William & Co. IL grew its position in Veru by 26.3% during the fourth 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 in the last quarter. 47.16% of the stock is currently owned by institutional investors and hedge funds.

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.