Canaccord Genuity Group Reaffirms Buy Rating for Veru (NASDAQ:VERU)

Veru (NASDAQ:VERU)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research report issued on Thursday,Benzinga reports. They currently have a $25.00 target price on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 370.19% from the company’s current price.

VERU has been the subject of a number of other research reports. Oppenheimer dropped their price objective on Veru from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Veru in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Veru Stock Up 136.3%

Veru stock traded up $3.07 during midday trading on Thursday, reaching $5.32. The stock had a trading volume of 35,533,652 shares, compared to its average volume of 210,548. Veru has a 52-week low of $2.05 and a 52-week high of $7.40. The firm has a market cap of $85.34 million, a price-to-earnings ratio of -6.25 and a beta of -1.14. The company has a fifty day moving average of $2.30 and a 200 day moving average of $2.38.

Veru (NASDAQ:VERU) last posted its quarterly earnings data 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. Equities research analysts predict that Veru will post -1.07 EPS for the current year.

Hedge Funds Weigh In On Veru

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Veru by 69.3% during the 1st quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock valued at $27,000 after purchasing an additional 5,008 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Veru during the 1st quarter valued at $153,000. NewEdge Advisors LLC raised its position in Veru by 388.7% during the 4th quarter. NewEdge Advisors LLC now owns 70,525 shares of the company’s stock valued at $151,000 after purchasing an additional 56,095 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in Veru during the 4th quarter valued at $75,000. Finally, Blair William & Co. IL raised its position in Veru by 26.3% during the 4th quarter. Blair William & Co. IL now owns 48,000 shares of the company’s stock valued at $103,000 after purchasing an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 47.16% of the company’s stock.

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.