Veru (NASDAQ:VERU) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Veru Inc. (NASDAQ:VERU) passed 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.

Wall Street Analyst Weigh In

VERU has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Veru in a research note on Monday, April 20th. Canaccord Genuity Group reissued a “buy” rating and issued a $25.00 target price on shares of Veru in a research note on Thursday, June 4th. Finally, Oppenheimer lowered their price target on Veru from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. 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.com, the company has an average rating of “Moderate Buy” and an average price target of $23.00.

Veru Stock Down 8.0%

The business has a fifty day moving average price of $2.45 and a 200-day moving average price of $2.43. The stock has a market capitalization of $48.15 million, a P/E ratio of -3.37 and a beta of -1.14.

Veru (NASDAQ:VERU) last posted its earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.15. On average, equities analysts expect that Veru Inc. will post -1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VERU. Royal Bank of Canada lifted its holdings in Veru by 69.3% in the first 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 during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Veru in the third quarter worth about $38,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Veru in the third quarter worth about $47,000. XTX Topco Ltd bought a new position in shares of Veru in the second quarter worth about $49,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Veru in the fourth quarter worth about $75,000. 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.