Veru (NASDAQ:VERU) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Veru Inc. (NASDAQ:VERU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.42 and traded as high as $3.30. Veru shares last traded at $3.26, with a volume of 901,102 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Veru in a report on Monday, April 20th. Oppenheimer decreased their price objective on shares of Veru from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.00.

Veru Price Performance

The firm has a market cap of $52.32 million, a PE ratio of -3.66 and a beta of -1.14. The business’s fifty day moving average is $2.43 and its 200-day moving average is $2.42.

Veru (NASDAQ:VERU) last posted its earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.15. Analysts forecast that Veru Inc. will post -1.07 EPS for the current year.

Hedge Funds Weigh In On Veru

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Veru in the third quarter worth about $38,000. Royal Bank of Canada increased its stake in shares of Veru by 69.3% in the first 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. Cassaday & Co Wealth Management LLC purchased a new position in shares of Veru in the third quarter worth about $47,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Veru in the third quarter worth about $110,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Veru in the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 47.16% of the company’s stock.

Veru Company Profile

Veru Inc is a clinical-stage biopharmaceutical company headquartered in Miami, Florida. The company is dedicated to the development and commercialization of novel therapies in the fields of oncology and infectious disease. Veru’s research strategy centers on advancing small-molecule and biologic candidates through clinical trials, leveraging its in-house manufacturing and formulation capabilities as well as strategic partnerships to support late-stage development.

The company’s lead product candidate is sabizabulin (VERU-111), an oral, microtubule-disrupting agent undergoing pivotal trials for indications that include metastatic castration-resistant prostate cancer and hospitalized patients with severe COVID-19.