In a report issued on November 13, Kumaraguru Raja from Brookline Capital Markets maintained a Buy rating on Veru Inc (VERU), with a price target of $10. The company’s shares closed yesterday at $1.40.
Raja wrote:
“Veru has filed an Investigational New Drug (IND) Application with the US Food and Drug Administration (FDA) for VERU-111/ bisindole and plans to conduct an open label Phase 1b/2 trial in men with metastatic castration resistant prostate cancer (mCRPC) that are resistant or unresponsive to abiraterone or enzalutamide.”
According to TipRanks.com, Raja is a 1-star analyst with an average return of -7.0% and a 37.9% success rate. Raja covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Corbus Pharmaceuticals, and Acer Therapeutics Inc.
Veru Inc has an analyst consensus of Strong Buy, with a price target consensus of $8.17.
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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 $2.68 million.
Based on the recent corporate insider activity of 19 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.
