Zacks Investment Research Upgrades Veru (NASDAQ:VERU) to “Hold”

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Veru (NASDAQ:VERU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

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 firms also recently issued reports on VERU. HC Wainwright reiterated a “buy” rating and issued a $4.50 price objective on shares of Veru in a report on Friday, August 9th. Brookline Capital Management began coverage on Veru in a report on Monday, July 29th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on Veru in a report on Monday, July 1st. They issued an “overweight” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $5.71.

Shares of VERU stock traded down $0.02 on Thursday, hitting $1.88. The stock had a trading volume of 2,221 shares, compared to its average volume of 93,479. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.20. The firm has a market capitalization of $124.88 million, a P/E ratio of -4.87 and a beta of 0.43. Veru has a 1 year low of $1.18 and a 1 year high of $2.49. The company’s 50 day moving average price is $1.99 and its 200-day moving average price is $1.82.

Veru (NASDAQ:VERU) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $9.73 million for the quarter, compared to the consensus estimate of $8.11 million. Veru had a negative return on equity of 50.14% and a negative net margin of 59.68%. On average, equities analysts forecast that Veru will post -0.18 EPS for the current year.

In related news, CFO Michele Greco purchased 20,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were bought at an average price of $1.84 per share, for a total transaction of $36,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mitchell Shuster Steiner sold 30,000 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $1.93, for a total value of $57,900.00. In the last 90 days, insiders have acquired 47,000 shares of company stock worth $89,040 and have sold 80,000 shares worth $170,700. 29.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Wedge Capital Management L L P NC purchased a new stake in Veru during the 2nd quarter worth about $394,000. BlackRock Inc. increased its holdings in Veru by 65.4% during the 2nd quarter. BlackRock Inc. now owns 228,934 shares of the company’s stock worth $487,000 after purchasing an additional 90,530 shares during the period. Renaissance Technologies LLC increased its holdings in Veru by 183.1% during the 2nd quarter. Renaissance Technologies LLC now owns 262,160 shares of the company’s stock worth $558,000 after purchasing an additional 169,550 shares during the period. Finally, Perceptive Advisors LLC increased its holdings in Veru by 1.4% during the 2nd quarter. Perceptive Advisors LLC now owns 1,445,000 shares of the company’s stock worth $3,078,000 after purchasing an additional 20,000 shares during the period. Institutional investors own 8.83% of the company’s stock.

About Veru

Veru Inc operates as an oncology and urology biopharmaceutical company. The company operates through two segments, Commercial, and Research and Development. It offers FC2 Female Condom for unintended pregnancy and sexually transmitted infections, including HIV/AIDS and the Zika virus; and PREBOOST benzocaine medicated individual wipes for the prevention of premature ejaculation.

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