HC Wainwright Reaffirms Buy Rating for Veru (NASDAQ:VERU)

Veru (NASDAQ:VERU)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $3.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 361.54% from the stock’s current price.

Separately, Oppenheimer restated an “outperform” rating and issued a $5.00 price objective on shares of Veru in a research note on Tuesday, November 5th.

Veru Stock Performance

Shares of VERU stock opened at $0.65 on Friday. Veru has a 52 week low of $0.36 and a 52 week high of $1.92. The firm’s 50-day simple moving average is $0.74 and its two-hundred day simple moving average is $0.81. The firm has a market cap of $95.15 million, a price-to-earnings ratio of -1.35 and a beta of -0.50.

Veru (NASDAQ:VERU) last posted its quarterly earnings data on Monday, December 16th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Veru had a negative return on equity of 115.99% and a negative net margin of 376.38%. Analysts forecast that Veru will post -0.3 earnings per share for the current year.

Institutional Trading of Veru

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC grew its holdings in Veru by 26.5% during the 2nd quarter. Perceptive Advisors LLC now owns 7,063,277 shares of the company’s stock valued at $5,942,000 after buying an additional 1,478,578 shares in the last quarter. Choreo LLC grew its stake in Veru by 261.3% during the second quarter. Choreo LLC now owns 332,050 shares of the company’s stock valued at $292,000 after acquiring an additional 240,134 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Veru during the 2nd quarter worth approximately $161,000. Bank of New York Mellon Corp lifted its stake in Veru by 1,718.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 443,782 shares of the company’s stock worth $373,000 after purchasing an additional 419,374 shares in the last quarter. Finally, PVG Asset Management Corp bought a new position in Veru in the 2nd quarter valued at $474,000. 47.16% of the stock is currently owned by institutional investors.

About Veru

Veru Inc, a late clinical stage biopharmaceutical company, focuses on developing medicines for treatment of metabolic diseases, oncology, and acute respiratory distress syndrome (ARDS). Its marketed products comprise FC2 female condom for the dual protection against unplanned pregnancy and the transmission of sexually transmitted infections.