Maxim Group analyst Jason McCarthy maintained a Buy rating on Veru Inc (NASDAQ: VERU) today and set a price target of $10. The company’s shares opened today at $1.85.
“Veru announced that company completed a successful pre-IND meeting with FDA for the planned P1/2 trial of oral anti-tubulin VERU-111 in metastatic prostate cancer. The IND submission is next and the study should initiate by YE18.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 15.6% and a 47.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Veru Inc with a $8.33 average price target, representing a 350.3% upside. In a report issued on August 30, H.C. Wainwright also reiterated a Buy rating on the stock with a $5 price target.
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Based on Veru Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.93 million. In comparison, last year the company had a GAAP net loss of $789.9K.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VERU in relation to earlier this year.
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Veru, Inc. is a urology and oncology biopharmaceutical company, which engages in the development, manufacture, and marketing of consumer health care products. It operates through the Commercial; and Research and Development segments.