Zacks Investment Research Downgrades Veru (NASDAQ:VERU) to Sell

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

VERU has been the subject of several other reports. HC Wainwright reiterated a “buy” rating on shares of Veru in a report on Thursday, October 3rd. ValuEngine lowered Veru from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Brookline Capital Management started coverage on Veru in a report on Monday, July 29th. They set a “buy” rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald started coverage on Veru in a report on Monday, July 1st. They set an “overweight” rating and a $6.00 price target for the company. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $5.71.

NASDAQ VERU traded up $0.01 during trading on Friday, reaching $2.08. 25,500 shares of the company’s stock were exchanged, compared to its average volume of 161,201. Veru has a fifty-two week low of $1.18 and a fifty-two week high of $2.49. The firm has a market capitalization of $133.98 million, a PE ratio of -5.33 and a beta of 0.41. The company has a current ratio of 1.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $2.00 and its 200-day simple moving average is $1.89.

Veru (NASDAQ:VERU) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). Veru had a negative return on equity of 50.14% and a negative net margin of 59.68%. The firm had revenue of $9.73 million during the quarter, compared to analyst estimates of $8.11 million. Equities analysts forecast that Veru will post -0.18 EPS for the current fiscal year.

In other news, CFO Michele Greco purchased 20,000 shares of Veru stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average cost of $1.84 per share, for a total transaction of $36,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mitchell Shuster Steiner sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $1.93, for a total value of $57,900.00. Over the last quarter, insiders have bought 47,000 shares of company stock valued at $89,040 and have sold 74,164 shares valued at $155,586. 29.50% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Wedge Capital Management L L P NC bought a new position in shares of Veru in the 2nd quarter valued at approximately $394,000. Renaissance Technologies LLC raised its stake in shares of Veru by 183.1% in the 2nd quarter. Renaissance Technologies LLC now owns 262,160 shares of the company’s stock valued at $558,000 after acquiring an additional 169,550 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Veru by 1.4% in the 2nd quarter. Perceptive Advisors LLC now owns 1,445,000 shares of the company’s stock valued at $3,078,000 after acquiring an additional 20,000 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Veru by 65.4% in the 2nd quarter. BlackRock Inc. now owns 228,934 shares of the company’s stock valued at $487,000 after acquiring an additional 90,530 shares in the last quarter. 8.83% of the stock is currently owned by institutional investors and hedge funds.

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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