Veru (NASDAQ:VERU) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Veru (NASDAQ:VERU) from a sell rating to a strong sell rating in a research note published on Sunday,Wall Street Zen reports.

VERU has been the subject of several other research reports. Oppenheimer reiterated an “outperform” rating on shares of Veru in a report on Wednesday, October 14th. Westpark Capital began coverage on shares of Veru in a report on Tuesday, October 6th. They set a “buy” rating on the stock. Finally, Weiss Ratings cut shares of Veru from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Veru Stock Performance

NASDAQ VERU opened at $2.12 on Friday. The business has a 50 day simple moving average of $2.41 and a 200 day simple moving average of $2.49. Veru has a 52-week low of $2.04 and a 52-week high of $7.33. The stock has a market cap of $36.15 million, a price-to-earnings ratio of -3.07 and a beta of -1.20.

Veru (NASDAQ:VERU) last announced its 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. On average, analysts predict that Veru will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Veru

A number of hedge funds and other institutional investors have recently bought and sold shares of VERU. FNY Investment Advisers LLC acquired a new position in Veru during the 2nd quarter worth approximately $328,000. Royal Bank of Canada grew its stake in shares of Veru by 69.3% during the 1st quarter. Royal Bank of Canada now owns 12,239 shares of the company’s stock worth $27,000 after acquiring an additional 5,008 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Veru during the 1st quarter worth approximately $153,000. Institutional investors and hedge funds own 47.16% of the company’s stock.

About Veru

Veru Inc is a biopharmaceutical company focused on developing medicines for oncology and metabolic diseases. The company’s pipeline includes therapies intended to address cancer-related muscle wasting, obesity, and other conditions associated with the loss of lean body mass and physical function.

Veru’s principal investigational product is enobosarm, an oral selective androgen receptor modulator being studied for its potential to preserve or increase muscle mass and improve physical function in patients with cancer-related wasting and obesity.