Verastem (NASDAQ:VSTM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a research note published on Thursday morning.

A number of other research firms have also weighed in on VSTM. Guggenheim assumed coverage on shares of Verastem in a research report on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Verastem in a report on Friday, October 18th. B. Riley decreased their price target on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Finally, Truist Financial decreased their target price on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.57.

Verastem Stock Performance

NASDAQ VSTM opened at $3.95 on Thursday. The business’s 50 day moving average price is $3.03 and its 200-day moving average price is $4.25. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The company has a market cap of $158.95 million, a P/E ratio of -1.24 and a beta of 0.14. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.28 and a current ratio of 3.23.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. Sell-side analysts predict that Verastem will post -3.36 earnings per share for the current year.

Hedge Funds Weigh In On Verastem

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after acquiring an additional 10,678 shares during the period. Nantahala Capital Management LLC bought a new stake in shares of Verastem in the 2nd quarter valued at about $1,192,000. Bank of New York Mellon Corp bought a new stake in shares of Verastem in the 2nd quarter valued at about $203,000. Rhumbline Advisers lifted its position in shares of Verastem by 4,172.0% in the 2nd 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. Finally, Acadian Asset Management LLC bought a new position in shares of Verastem during the second quarter valued at approximately $82,000. 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.