Veru (NASDAQ:VERU) Stock Rated “Buy” in New Coverage at Westpark Capital

Westpark Capital began coverage on shares of Veru (NASDAQ:VERU) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating on the stock.

A number of other brokerages also recently commented on VERU. Weiss Ratings raised shares of Veru from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Wall Street Zen lowered shares of Veru from a “hold” rating to a “sell” rating in a report on Sunday, September 27th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Veru currently has an average rating of “Moderate Buy” and an average target price of $24.50.

Veru Price Performance

Shares of NASDAQ:VERU opened at $2.42 on Tuesday. The business has a 50-day moving average of $2.54 and a two-hundred day moving average of $2.53. The firm has a market capitalization of $41.26 million, a PE ratio of -3.51 and a beta of -1.21. Veru has a 12 month low of $2.05 and a 12 month high of $7.33.

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

Institutional Investors Weigh In On Veru

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

Veru Company Profile

Veru Inc is a clinical-stage biopharmaceutical company focused on developing medicines for obesity, oncology and related conditions. The company’s research programs are designed to address cancer-related muscle loss and treatment challenges, as well as the loss of lean muscle that can accompany significant weight reduction.

Veru’s lead investigational product, enobosarm, is an oral selective androgen receptor modulator being studied for its potential to preserve or increase muscle mass and improve physical function.