Veru (NASDAQ:VERU) Issues Quarterly Earnings Results

Key Points

• Veru Inc. reported quarterly earnings of ($0.50) per share, exceeding analysts' expectations of ($0.55) by $0.05.
• Despite the earnings beat, Veru's stock fell $0.42 during mid-day trading, reaching a price of $3.17.
• Veru, categorized as a late clinical stage biopharmaceutical company, is focused on developing treatments for metabolic diseases, oncology, and acute respiratory distress syndrome (ARDS).

Veru (NASDAQ:VERU - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.05, Zacks reports.

Veru Price Performance

Shares of VERU traded down $0.12 during midday trading on Friday, reaching $3.59. 216,469 shares of the stock were exchanged, compared to its average volume of 209,242. The business's 50-day moving average price is $5.50 and its 200 day moving average price is $5.40. Veru has a twelve month low of $2.64 and a twelve month high of $14.20. The company has a market capitalization of $52.63 million, a price-to-earnings ratio of -1.63 and a beta of -0.72.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial decreased their price target on Veru from $30.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday.

Institutional Trading of Veru

A number of hedge funds and other institutional investors have recently made changes to their positions in VERU. Marshall Wace LLP acquired a new position in Veru in the 2nd quarter valued at about $220,000. Qube Research & Technologies Ltd acquired a new position in Veru in the 2nd quarter valued at about $152,000. Sender Co & Partners Inc. increased its position in Veru by 82.8% in the 2nd quarter. Sender Co & Partners Inc. now owns 238,231 shares of the company's stock valued at $139,000 after acquiring an additional 107,911 shares during the period. Raymond James Financial Inc. increased its position in Veru by 48.3% in the 2nd quarter. Raymond James Financial Inc. now owns 206,405 shares of the company's stock valued at $120,000 after acquiring an additional 67,178 shares during the period. Finally, Bank of America Corp DE increased its position in Veru by 5.5% in the 2nd quarter. Bank of America Corp DE now owns 185,669 shares of the company's stock valued at $108,000 after acquiring an additional 9,637 shares during the period. Institutional investors and hedge funds own 47.16% of the company's stock.

Veru Company Profile

Veru Inc, a late clinical stage biopharmaceutical company, focuses on developing medicines for treatment of metabolic diseases, oncology, and acute respiratory distress syndrome (ARDS). Its marketed products comprise FC2 female condom for the dual protection against unplanned pregnancy and the transmission of sexually transmitted infections.