Raymond James Financial Cuts Veru (NASDAQ:VERU) Price Target to $20.00

Key Points

• Raymond James Financial has lowered its price target for Veru (NASDAQ:VERU) from $30.00 to $20.00, while maintaining an "outperform" rating on the stock.
• Veru's stock has fallen 11.7%, opening at $3.17, with a 52-week range between $2.64 and $14.20.
• The company reported an earnings per share (EPS) of ($0.50) for the most recent quarter, slightly beating the consensus estimate of ($0.55).

Veru (NASDAQ:VERU - Free Report) had its price objective reduced by Raymond James Financial from $30.00 to $20.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Veru Price Performance

NASDAQ VERU traded down $0.08 on Wednesday, hitting $3.51. The stock had a trading volume of 161,834 shares, compared to its average volume of 276,652. The business's fifty day moving average price is $5.50 and its 200 day moving average price is $5.40. Veru has a 52-week low of $2.64 and a 52-week high of $14.20. The stock has a market cap of $51.45 million, a price-to-earnings ratio of -1.60 and a beta of -0.72.

Veru (NASDAQ:VERU - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.05. As a group, sell-side analysts anticipate that Veru will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Veru

Large investors have recently made changes to their positions in the stock. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Veru during the second quarter valued at $36,000. Weaver Consulting Group grew its holdings in shares of Veru by 27.4% during the first quarter. Weaver Consulting Group now owns 88,838 shares of the company's stock valued at $44,000 after buying an additional 19,133 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of Veru during the second quarter valued at $45,000. Wells Fargo & Company MN grew its holdings in shares of Veru by 37.1% during the fourth quarter. Wells Fargo & Company MN now owns 75,512 shares of the company's stock valued at $49,000 after buying an additional 20,430 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Veru during the second quarter valued at $49,000. 47.16% of the stock is owned by hedge funds and other institutional investors.

About Veru

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.