In a report released today, Leland Gershell from Oppenheimer initiated coverage with a Buy rating on Veru Inc (VERU) and a price target of $5. The company’s shares opened today at $1.45.
Gershell commented:
“We initiate coverage on VERU with an Outperform rating and a $5 price target. With a profile rarely seen within small-cap biopharma, VERU generates commercial revenue that meaningfully offsets R&D burn, has a near-term product opportunity that is both risk-mitigated and high-margin, and offers significant upside prospects from new chemical entities for unmet needs in prostate cancer. We believe mid-2019 data readouts on zuclomiphene, in the management of hot flashes in prostate cancer patients receiving androgen-deprivation therapy, and on VERU-111, a first- in-class oral anti-tubulin in Zytiga/Xtandi-resistant metastatic prostate cancer, will catalyze investor attention to this off-the-radar name.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -1.4% and a 43.5% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Anchiano Therapeutics Ltd, Avenue Therapeutics Inc, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Veru Inc with a $6.38 average price target.
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Based on Veru Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.15 million. In comparison, last year the company had a GAAP net loss of $4.26 million.
Based on the recent corporate insider activity of 22 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.
