Canaccord Genuity Group Begins Coverage on Veru (NASDAQ:VERU)

Equities research analysts at Canaccord Genuity Group started coverage on shares of Veru (NASDAQ:VERU) in a research report issued on Thursday,Benzinga reports. The firm set a “buy” rating and a $25.00 price target on the stock.

A number of other equities analysts also recently commented on the stock. Oppenheimer reiterated an “outperform” rating on shares of Veru in a report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veru in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Veru currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Veru Trading Down 8.6%

Shares of NASDAQ:VERU opened at $2.23 on Thursday. Veru has a 12-month low of $2.11 and a 12-month high of $14.20. The business’s fifty day simple moving average is $2.96 and its 200-day simple moving average is $4.12. The company has a market capitalization of $32.69 million, a PE ratio of -1.01 and a beta of -1.01.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MPM Bioimpact LLC raised its stake in shares of Veru by 53.8% in the first quarter. MPM Bioimpact LLC now owns 6,592,727 shares of the company’s stock worth $3,231,000 after purchasing an additional 2,307,362 shares during the last quarter. Marshall Wace LLP acquired a new position in Veru in the 2nd quarter worth approximately $220,000. Sheets Smith Investment Management raised its position in Veru by 1,341.9% during the 3rd quarter. Sheets Smith Investment Management now owns 322,084 shares of the company’s stock worth $1,224,000 after buying an additional 299,746 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Veru during the 2nd quarter valued at approximately $152,000. Finally, Nuveen LLC purchased a new stake in shares of Veru in the 1st quarter valued at $88,000. Hedge funds and other institutional investors own 47.16% of the company’s stock.

Veru Company Profile

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.