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

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

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

Verastem Stock Performance

NASDAQ:VSTM opened at $3.96 on Tuesday. The company has a market cap of $176.26 million, a P/E ratio of -1.24 and a beta of 0.14. The firm’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.96. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.11. Analysts expect that Verastem will post -3.24 EPS for the current year.

Hedge Funds Weigh In On Verastem

Institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC bought a new stake in shares of Verastem in the second quarter worth $1,192,000. SG Americas Securities LLC bought a new stake in shares of Verastem in the 3rd quarter worth about $43,000. Vanguard Group Inc. raised its stake in shares of Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after purchasing an additional 10,678 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Verastem during the second quarter worth about $203,000. Finally, Acadian Asset Management LLC bought a new position in shares of Verastem during the second quarter worth about $82,000. 88.37% of the stock is owned by institutional investors and hedge funds.

About Verastem

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.