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Fly News Breaks for July 2, 2019
Jul 2, 2019 | 07:31 EDT
Cantor Fitzgerald analyst Brandon Folkes last night initiated coverage of Veru with an Overweight rating and $6 price target. The company has built a pipeline of "compelling" assets, Folkes tells investors in a research note. He believes Veru's female condom business and Preboost have the potential to provide non-dilutive funding for the company to support continued investment in its pipeline. Further, at current share levels, little value is being ascribed to VERU-111, VERU-100, or Zuclomiphene citrate, which, if any are successful, could generate revenue in excess of $100M-plus each, Folkes contends. He believes "multiple near-term catalysts could transform" Veru.
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