Veru’s (VERU) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Veru (NASDAQ:VERU)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research note issued on Thursday,Benzinga reports. They currently have a $25.00 price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 370.19% from the stock’s current price.

VERU has been the topic of a number of other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Veru in a report on Monday, April 20th. Oppenheimer lowered their price target on shares of Veru from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Veru Stock Performance

Veru stock traded up $3.07 during mid-day trading on Thursday, reaching $5.32. 35,533,652 shares of the company were exchanged, compared to its average volume of 210,548. The firm has a market cap of $85.34 million, a P/E ratio of -6.25 and a beta of -1.14. The business has a fifty day moving average of $2.30 and a 200 day moving average of $2.38. Veru has a 12-month low of $2.05 and a 12-month high of $7.40.

Veru (NASDAQ:VERU) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.15. Sell-side analysts predict that Veru will post -1.07 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VERU. Royal Bank of Canada raised its holdings in shares of Veru by 69.3% in the first quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock worth $27,000 after buying an additional 5,008 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Veru in the third quarter worth $38,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Veru in the third quarter worth $47,000. XTX Topco Ltd purchased a new position in shares of Veru in the second quarter worth $49,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Veru in the fourth quarter worth $75,000. 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.