HC Wainwright Reiterates “Buy” Rating for Veru (NASDAQ:VERU)

HC Wainwright restated their buy rating on shares of Veru (NASDAQ:VERU) in a report published on Tuesday morning, TipRanks reports. The brokerage currently has a $21.00 price target on the stock.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Veru from a buy rating to a hold rating in a research report on Wednesday, November 3rd. TheStreet raised Veru from a d+ rating to a c rating in a research report on Friday, September 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $18.88.

Shares of Veru stock opened at $5.89 on Tuesday. Veru has a fifty-two week low of $5.11 and a fifty-two week high of $24.57. The firm has a market cap of $471.38 million, a PE ratio of 53.55 and a beta of 0.45. The business’s fifty day moving average is $6.88 and its two-hundred day moving average is $7.66.

Veru (NASDAQ:VERU) last issued its quarterly earnings results on Thursday, December 2nd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. Veru had a negative return on equity of 8.61% and a net margin of 12.07%. During the same quarter last year, the firm posted ($0.01) EPS. On average, analysts forecast that Veru will post -0.27 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Veru by 833.3% in the third quarter. PNC Financial Services Group Inc. now owns 5,600 shares of the company’s stock valued at $49,000 after purchasing an additional 5,000 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Veru by 58,880.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 8,847 shares of the company’s stock valued at $71,000 after acquiring an additional 8,832 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Veru by 46.8% during the second quarter. Legal & General Group Plc now owns 8,959 shares of the company’s stock valued at $72,000 after acquiring an additional 2,855 shares in the last quarter. Citigroup Inc. grew its stake in shares of Veru by 81.1% during the third quarter. Citigroup Inc. now owns 9,754 shares of the company’s stock valued at $83,000 after acquiring an additional 4,368 shares in the last quarter. Finally, Selective Wealth Management Inc. acquired a new stake in shares of Veru during the third quarter valued at about $85,000. 30.37% of the stock is currently owned by institutional investors.

About Veru

Veru, Inc is an oncology biopharmaceutical company, which engages in developing novel medicines for the management of prostate cancer and breast cancer. Its prostate cancer drug candidates include: VERU-111, an oral alpha and beta tubulin inhibitor, which is in a Phase 2 clinical trial for the treatment of metastatic castration and androgen receptor targeting agent resistant prostate cancer; VERU-100, a novel, proprietary, GnRH antagonist peptide drug formulation designed to address the current limitations of commercially available androgen deprivation therapies (ADT) for advanced prostate cancer; and Zuclomiphene Citrate, an oral nonsteroidal estrogen receptor agonist being developed to treat hot flashes, a common side effect caused by ADT.

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