Veru price target lowered to $14 from $20 at Oppenheimer

Oppenheimer analyst Leland Gershell lowered the firm’s price target on Veru to $14 from $20 and keeps an Outperform rating on the shares. As sabizabulin remains in COVID-19 emergency use reviews here and abroad, Veru continues to build inventory and lay the groundwork to support potential distribution at scale. Last Thursday’s Q1 report reminded the firm that these activities come at a cost, but the company has begun taking steps to mitigate spend, and revenues from the commercial business appear to be recovering, Oppenheimer says. Nonetheless, with Veru committed to pursue what may be full approval in high-risk hospitalized COVID-19, it is evaluating plans to begin a second Phase 3 in that setting-and contemplating similar pivotals in flu and RSV-while maintaining multiple ongoing oncology Phase 3s, the firm adds.