Verastem (NASDAQ:VSTM) Downgraded by StockNews.com

StockNews.com downgraded shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a report issued on Thursday.

A number of other equities analysts also recently commented on the stock. Truist Financial lowered their target price on shares of Verastem from $34.00 to $18.00 and set a buy rating for the company in a research note on Monday, July 8th. B. Riley decreased their target price on Verastem from $21.00 to $7.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price target on shares of Verastem from $32.00 to $16.00 and set an outperform rating on the stock in a research note on Tuesday, May 28th. HC Wainwright restated a buy rating and set a $17.50 price objective on shares of Verastem in a research report on Tuesday, May 28th. Finally, Alliance Global Partners lowered their target price on shares of Verastem from $34.00 to $20.00 and set a buy rating for the company in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $20.21.

Verastem Stock Performance

Shares of VSTM opened at $2.51 on Thursday. Verastem has a 1 year low of $2.37 and a 1 year high of $14.22. The stock has a market capitalization of $63.58 million, a PE ratio of -0.57 and a beta of 0.20. The company has a debt-to-equity ratio of 1.60, a quick ratio of 4.40 and a current ratio of 4.40. The stock has a 50-day simple moving average of $3.25 and a 200-day simple moving average of $8.64.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.10). On average, analysts predict that Verastem will post -4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Several hedge funds have recently added to or reduced their stakes in VSTM. Vanguard Group Inc. grew its holdings in Verastem by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after buying an additional 10,678 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Verastem during the second quarter valued at $203,000. Rhumbline Advisers increased its position in Verastem by 4,172.0% during 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 in the last quarter. Cannon Global Investment Management LLC acquired a new position in Verastem in the 1st quarter valued at about $131,000. Finally, International Assets Investment Management LLC raised its stake in Verastem by 114,375.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 9,150 shares during the last quarter. 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.