Verastem (NASDAQ:VSTM) Stock Rating Reaffirmed by HC Wainwright

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They presently have a $7.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 136.49% from the company’s previous close.

Several other analysts have also issued reports on the company. Truist Financial cut their price target on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Guggenheim began coverage on Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 price target for the company. Royal Bank of Canada dropped their price objective on Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday. Finally, StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.57.

Verastem Stock Performance

Shares of VSTM opened at $2.96 on Friday. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28. Verastem has a one year low of $2.10 and a one year high of $14.22. The firm has a market capitalization of $74.96 million, a P/E ratio of -0.67 and a beta of 0.17. The business has a fifty day moving average of $2.67 and a 200 day moving average of $5.11.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.75. The firm had revenue of $10.00 million during the quarter. As a group, sell-side analysts anticipate that Verastem will post -3.36 EPS for the current year.

Institutional Investors Weigh In On Verastem

A number of hedge funds have recently made changes to their positions in VSTM. SG Americas Securities LLC purchased a new stake in shares of Verastem in the third quarter worth about $43,000. Acadian Asset Management LLC purchased a new stake in Verastem during the second quarter valued at approximately $82,000. Rhumbline Advisers raised its position in Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 28,119 shares during the period. Cannon Global Investment Management LLC purchased a new stake in Verastem during the first quarter valued at approximately $131,000. Finally, Bank of New York Mellon Corp purchased a new stake in Verastem during the second quarter valued at approximately $203,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.