Verastem (NASDAQ:VSTM) Earns Buy Rating from Analysts at Guggenheim

Guggenheim began coverage on shares of Verastem (NASDAQ:VSTM) in a research report report published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $13.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Verastem from a sell rating to a hold rating in a research report on Monday, August 12th. Royal Bank of Canada reduced their target price on Verastem from $16.00 to $13.00 and set an outperform rating for the company in a report on Friday, August 9th. Truist Financial lowered their target price on shares of Verastem from $18.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday, August 13th. B. Riley lowered their target price on Verastem from $21.00 to $7.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Finally, HC Wainwright dropped their target price on shares of Verastem from $17.50 to $7.00 and set a buy rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $14.57.

Verastem Price Performance

NASDAQ VSTM opened at $2.99 on Monday. The business’s fifty day moving average is $2.59 and its two-hundred day moving average is $5.87. The stock has a market capitalization of $75.72 million, a P/E ratio of -0.68 and a beta of 0.16. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.28 and a current ratio of 3.28. Verastem has a 1 year low of $2.10 and a 1 year high of $14.22.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The firm had revenue of $10.00 million for the quarter. On average, research analysts forecast that Verastem will post -3.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently bought and sold shares of VSTM. Cannon Global Investment Management LLC acquired a new stake in shares of Verastem during the 1st quarter valued at about $131,000. Acadian Asset Management LLC bought a new position in Verastem during the second quarter worth about $82,000. Rhumbline Advisers lifted its stake in Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 28,119 shares during the period. Bank of New York Mellon Corp acquired a new stake in Verastem during the second quarter valued at approximately $203,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Verastem in the 2nd quarter worth approximately $1,192,000. Institutional investors own 88.37% of the company’s stock.

Verastem Company Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.