Veru (NASDAQ:VERU) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Veru Inc. (NASDAQ:VERU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.52 and traded as high as $2.82. Veru shares last traded at $2.69, with a volume of 203,191 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on VERU. Canaccord Genuity Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Veru in a report on Thursday, June 4th. Weiss Ratings cut Veru from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Oppenheimer cut their price objective on Veru from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Finally, Wall Street Zen lowered shares of Veru from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.50.

Veru Stock Performance

The company has a market cap of $45.18 million, a PE ratio of -3.84 and a beta of -1.17. The company has a 50 day simple moving average of $2.60 and a two-hundred day simple moving average of $2.52.

Veru (NASDAQ:VERU) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.02. As a group, analysts expect that Veru Inc. will post -1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Veru

A number of hedge funds have recently modified their holdings of VERU. XTX Topco Ltd acquired a new stake in Veru during the second quarter valued at $49,000. Marshall Wace LLP acquired a new position in Veru in the 2nd quarter worth about $220,000. Qube Research & Technologies Ltd purchased a new stake in shares of Veru during the 2nd quarter worth about $152,000. Raymond James Financial Inc. raised its stake in shares of Veru by 48.3% during the 2nd quarter. Raymond James Financial Inc. now owns 206,405 shares of the company’s stock worth $120,000 after purchasing an additional 67,178 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Veru by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 185,669 shares of the company’s stock valued at $108,000 after buying an additional 9,637 shares during the last quarter. 47.16% of the stock is owned by institutional investors and hedge funds.

About Veru

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.