Veru (NASDAQ:VERU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $9.50 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.95% from the company’s current price.
According to Zacks, “Veru Inc. engages in the development, manufacture and marketing of consumer health care products. It focuses on producing FC2 female condom which provides dual protection against unintended pregnancy and sexually transmitted infections. Veru Inc., formerly known as The Female Health Company, is headquartered in Miami, FL. “
Several other research analysts have also recently issued reports on the stock. TheStreet raised shares of Veru from a “d+” rating to a “c” rating in a report on Friday, September 17th. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Veru in a report on Tuesday, September 21st. Oppenheimer reissued a “buy” rating and set a $26.00 target price on shares of Veru in a report on Friday, August 27th. Finally, Brookline Capital Management reissued a “buy” rating on shares of Veru in a report on Friday, August 27th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Veru has an average rating of “Buy” and an average target price of $17.92.
Veru (NASDAQ:VERU) last issued its earnings results on Thursday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Veru had a negative net margin of 0.25% and a negative return on equity of 7.62%. The firm had revenue of $17.66 million during the quarter, compared to analysts’ expectations of $13.98 million. As a group, research analysts forecast that Veru will post -0.19 earnings per share for the current fiscal year.
In related news, Director Lucy Lu bought 4,800 shares of the company’s stock in a transaction dated Tuesday, August 17th. The shares were acquired at an average price of $6.78 per share, for a total transaction of $32,544.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in VERU. Rhumbline Advisers grew its position in shares of Veru by 4.9% in the first quarter. Rhumbline Advisers now owns 49,634 shares of the company’s stock valued at $535,000 after purchasing an additional 2,327 shares during the period. BlackRock Inc. boosted its position in Veru by 4.3% during the first quarter. BlackRock Inc. now owns 3,925,773 shares of the company’s stock worth $42,301,000 after acquiring an additional 161,722 shares during the last quarter. New York State Common Retirement Fund boosted its position in Veru by 5.5% during the first quarter. New York State Common Retirement Fund now owns 47,900 shares of the company’s stock worth $516,000 after acquiring an additional 2,500 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Veru by 19.3% during the first quarter. JPMorgan Chase & Co. now owns 160,778 shares of the company’s stock worth $1,733,000 after acquiring an additional 25,990 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Veru by 21.4% during the first quarter. Geode Capital Management LLC now owns 936,166 shares of the company’s stock worth $10,087,000 after acquiring an additional 164,948 shares during the last quarter. Institutional investors and hedge funds own 30.61% of the company’s stock.
Veru Company Profile
Veru, Inc is an oncology biopharmaceutical company engaged in developing novel medicines for the management of prostate cancer and breast cancer. Its prostate cancer drug candidates include: VERU-111, an oral alpha and beta tubulin inhibitor, which is in a Phase 2 clinical trial for the treatment of metastatic castration and androgen receptor targeting agent resistant prostate cancer; VERU-100, a novel, proprietary, GnRH antagonist peptide drug formulation designed to address the current limitations of commercially available androgen deprivation therapies (ADT) for advanced prostate cancer; and Zuclomiphene Citrate, an oral nonsteroidal estrogen receptor agonist being developed to treat hot flashes, a common side effect caused by ADT.
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