Veru (NASDAQ:VERU) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Veru (NASDAQ:VERU) from a hold rating to a sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $25.00 price objective on shares of Veru in a report on Thursday, June 4th. Weiss Ratings downgraded shares of Veru from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. Two equities 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, the stock presently has an average rating of “Hold” and an average target price of $24.50.

Veru Stock Performance

Shares of Veru stock opened at $2.54 on Friday. Veru has a 52 week low of $2.05 and a 52 week high of $7.33. The stock has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $2.52. The stock has a market capitalization of $43.31 million, a PE ratio of -3.68 and a beta of -1.17.

Veru (NASDAQ:VERU) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.02. Research analysts forecast that Veru will post -1.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Veru by 69.3% in the 1st quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock worth $27,000 after purchasing an additional 5,008 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Veru in the 1st quarter worth approximately $153,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Veru in the second quarter valued at approximately $328,000. 47.16% of the stock is currently owned by hedge funds and other institutional investors.

About Veru

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.