Verastem (NASDAQ:VSTM) Lowered to “Sell” at StockNews.com

StockNews.com lowered shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a research note released on Tuesday.

VSTM has been the subject of several other reports. Royal Bank of Canada cut their target price on Verastem from $32.00 to $16.00 and set an outperform rating for the company in a research note on Tuesday, May 28th. Alliance Global Partners dropped their price objective on Verastem from $34.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, May 29th. Truist Financial decreased their target price on Verastem from $34.00 to $18.00 and set a buy rating on the stock in a research report on Monday, July 8th. Finally, HC Wainwright reissued a buy rating and issued a $17.50 target price on shares of Verastem in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $20.21.

Verastem Price Performance

Shares of NASDAQ VSTM opened at $2.97 on Tuesday. The stock has a market capitalization of $75.23 million, a PE ratio of -0.67 and a beta of 0.19. The business has a fifty day moving average price of $4.20 and a two-hundred day moving average price of $8.98. Verastem has a fifty-two week low of $2.54 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 1.60, a current ratio of 4.40 and a quick ratio of 4.40.

Verastem (NASDAQ:VSTM) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.10). As a group, equities analysts predict that Verastem will post -4.14 earnings per share for the current fiscal year.

Institutional Trading of Verastem

Several hedge funds and other institutional investors have recently made changes to their positions in VSTM. International Assets Investment Management LLC boosted its position in Verastem by 114,375.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 9,150 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of Verastem during the first quarter valued at $131,000. Citigroup Inc. acquired a new position in shares of Verastem during the third quarter worth $245,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 10,678 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

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.