Q3 2023 Earnings Forecast for Veru Inc. Issued By HC Wainwright (NASDAQ:VERU)

Veru Inc. (NASDAQ:VERU – Get Rating) – Stock analysts at HC Wainwright reduced their Q3 2023 earnings estimates for Veru in a research note issued on Monday, May 15th. HC Wainwright analyst Y. Chen now expects that the company will post earnings per share of ($0.29) for the quarter, down from their previous estimate of ($0.15). The consensus estimate for Veru’s current full-year earnings is ($1.24) per share. HC Wainwright also issued estimates for Veru’s Q4 2023 earnings at ($0.23) EPS, FY2023 earnings at ($1.39) EPS, Q1 2024 earnings at ($0.21) EPS, Q2 2024 earnings at ($0.17) EPS, Q3 2024 earnings at ($0.12) EPS, Q4 2024 earnings at ($0.11) EPS and FY2024 earnings at ($0.58) EPS.

Separately, Oppenheimer cut their target price on shares of Veru from $14.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, March 15th.

Veru Stock Performance

Shares of Veru stock opened at $1.13 on Thursday. Veru has a 52-week low of $0.93 and a 52-week high of $24.55. The stock has a market capitalization of $100.84 million, a price-to-earnings ratio of -0.65 and a beta of -0.22. The company’s 50 day moving average price is $1.31 and its 200-day moving average price is $4.26.

Institutional Trading of Veru

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERU. Wipfli Financial Advisors LLC purchased a new stake in Veru in the third quarter worth $25,000. Y Intercept Hong Kong Ltd purchased a new stake in Veru in the first quarter worth $39,000. Deutsche Bank AG lifted its stake in Veru by 41.5% in the first quarter. Deutsche Bank AG now owns 43,396 shares of the company’s stock worth $50,000 after acquiring an additional 12,729 shares during the period. Brinker Capital Investments LLC purchased a new stake in Veru in the fourth quarter worth $59,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Veru by 28.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 52,671 shares of the company’s stock valued at $62,000 after buying an additional 11,810 shares during the period. Hedge funds and other institutional investors own 48.87% of the company’s stock.

Veru Company Profile

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Veru, Inc is an oncology biopharmaceutical company, which engages in developing novel medicines for the management of prostate cancer and breast cancer. Its prostate cancer drug candidates include: VERU-111, an oral alpha and beta tubulin inhibitor, which is in a Phase 2 clinical trial for the treatment of metastatic castration and androgen receptor targeting agent resistant prostate cancer, VERU-100, a novel, proprietary, GnRH antagonist peptide drug formulation designed to address the current limitations of commercially available androgen deprivation therapies (ADT) for advanced prostate cancer, and Zuclomiphene Citrate, an oral nonsteroidal estrogen receptor agonist being developed to treat hot flashes, a common side effect caused by ADT.