Veru (NASDAQ:VERU) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Key Points

• Veru Inc.'s stock price fell below its 200-day moving average of $4.91, trading as low as $4.03 before finishing at $4.14.
• Analysts have set a consensus target price of $33.33 for Veru, with various ratings including three "Buy" and one "Sell" according to recent reports.
• The company reported EPS of ($0.50) for the quarter, slightly exceeding the consensus estimate of ($0.55), and is forecast to have an annual EPS of -0.22.

Veru Inc. (NASDAQ:VERU - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.91 and traded as low as $4.03. Veru shares last traded at $4.14, with a volume of 184,996 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on VERU. Raymond James Financial decreased their target price on shares of Veru from $30.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings restated a "sell (e+)" rating on shares of Veru in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Veru presently has an average rating of "Moderate Buy" and a consensus target price of $33.33.

Veru Trading Up 5.3%

The firm has a market cap of $60.69 million, a price-to-earnings ratio of -1.88 and a beta of -0.75. The company's 50-day moving average is $3.62 and its 200-day moving average is $4.91.

Veru (NASDAQ:VERU - Get Free Report) last posted 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. Equities research analysts forecast that Veru Inc. will post -0.22 EPS for the current year.

Institutional Trading of Veru

Large investors have recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd acquired a new stake in Veru in the second quarter valued at approximately $36,000. Weaver Consulting Group boosted its position in Veru by 27.4% in 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 in the last quarter. Allworth Financial LP acquired a new stake in Veru in the second quarter valued at approximately $45,000. XTX Topco Ltd acquired a new stake in Veru in the second quarter valued at approximately $49,000. Finally, Sender Co & Partners Inc. acquired a new stake in Veru in the first quarter valued at approximately $64,000. 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.

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