Westpark Capital Initiates Coverage on Veru (NASDAQ:VERU)
by Danessa Lincoln · The Markets DailyAnalysts at Westpark Capital initiated coverage on shares of Veru (NASDAQ:VERU – Get Free Report) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating on the stock.
Several other research analysts also recently commented on the company. Wall Street Zen downgraded Veru from a “hold” rating to a “sell” rating in a research note on Sunday, September 27th. Weiss Ratings raised shares of Veru from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Veru currently has a consensus rating of “Moderate Buy” and an average target price of $24.50.
Read Our Latest Research Report on VERU
Veru Price Performance
VERU stock traded down $0.07 during mid-day trading on Tuesday, reaching $2.48. 1,334,878 shares of the company’s stock were exchanged, compared to its average volume of 735,082. The stock’s 50 day moving average is $2.53 and its 200 day moving average is $2.53. Veru has a 12-month low of $2.05 and a 12-month high of $7.33. The company has a market cap of $42.28 million, a price-to-earnings ratio of -3.59 and a beta of -1.21.
Veru (NASDAQ:VERU – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.02. On average, research analysts forecast that Veru will post -1.07 earnings per share for the current fiscal year.
Institutional Trading of Veru
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in Veru in the second quarter worth approximately $328,000. Royal Bank of Canada raised its position in Veru by 69.3% in the first 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 during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Veru in the 1st quarter valued at $153,000. Institutional investors and hedge funds own 47.16% of the company’s stock.
Veru Company Profile
Veru Inc is a biopharmaceutical company focused on developing medicines for obesity, metabolic disorders and cancer. Its development programs are designed to address weight management, preservation of muscle mass during weight loss and treatment of certain hormone-sensitive cancers.
The company’s lead investigational product, enobosarm, is an oral selective androgen receptor modulator being evaluated for its potential to promote or preserve lean muscle while supporting weight loss. Veru has also developed oncology candidates, including sabizabulin, an oral microtubule disruptor studied in cancer indications, and other hormone-directed therapies.
Veru was formerly known as The Female Health Company and historically developed and commercialized the FC2 Female Condom, a female-controlled barrier contraceptive and sexually transmitted infection prevention product distributed in the United States and international markets.