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

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

Veru Stock Performance

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of Veru during the 2nd quarter worth about $49,000. Marshall Wace LLP bought a new stake in shares of Veru in the second quarter valued at about $220,000. Qube Research & Technologies Ltd acquired a new position in Veru during the 2nd quarter worth approximately $152,000. Raymond James Financial Inc. grew its position in Veru by 48.3% in the second quarter. Raymond James Financial Inc. now owns 206,405 shares of the company’s stock valued at $120,000 after purchasing an additional 67,178 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Veru by 5.5% in the second quarter. Bank of America Corp DE now owns 185,669 shares of the company’s stock valued at $108,000 after acquiring an additional 9,637 shares during the last quarter. 47.16% of the stock is currently owned by institutional investors.

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.