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

Verastem (NASDAQ:VSTMGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other equities analysts have also issued reports on VSTM. Royal Bank of Canada began coverage on Verastem in a research report on Thursday, April 14th. They set an “outperform” rating and a $5.00 price target on the stock. Zacks Investment Research upgraded Verastem from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. HC Wainwright reiterated a “buy” rating on shares of Verastem in a research report on Tuesday, March 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research report on Friday, April 1st. Finally, Truist Financial began coverage on Verastem in a research report on Wednesday, March 9th. They issued a “buy” rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Verastem presently has an average rating of “Buy” and a consensus target price of $5.63.

Shares of Verastem stock opened at $1.08 on Thursday. The company has a current ratio of 6.72, a quick ratio of 5.69 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $201.27 million, a PE ratio of -2.63 and a beta of 0.88. The business’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.83. Verastem has a 12 month low of $1.00 and a 12 month high of $4.94.

Verastem (NASDAQ:VSTMGet Rating) last posted its quarterly earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Verastem had a negative return on equity of 84.99% and a negative net margin of 2,007.44%. As a group, analysts predict that Verastem will post -0.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSTM. BVF Inc. IL lifted its stake in shares of Verastem by 32.7% in the 3rd quarter. BVF Inc. IL now owns 14,977,258 shares of the biopharmaceutical company’s stock valued at $46,130,000 after purchasing an additional 3,691,000 shares during the period. BioImpact Capital LLC purchased a new position in shares of Verastem in the 3rd quarter valued at approximately $8,701,000. Eagle Asset Management Inc. lifted its stake in shares of Verastem by 176.8% in the 4th quarter. Eagle Asset Management Inc. now owns 4,393,080 shares of the biopharmaceutical company’s stock valued at $9,093,000 after purchasing an additional 2,805,850 shares during the period. Soleus Capital Management L.P. purchased a new position in Verastem during the fourth quarter valued at $3,371,000. Finally, Renaissance Technologies LLC raised its stake in Verastem by 190.2% during the first quarter. Renaissance Technologies LLC now owns 1,684,106 shares of the biopharmaceutical company’s stock valued at $2,375,000 after buying an additional 1,103,806 shares during the last quarter. Institutional investors own 73.25% of the company’s stock.

Verastem Company Profile (Get Rating)

Verastem, Inc, a development-stage biopharmaceutical company, focusing on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a dual rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.

Further Reading

Analyst Recommendations for Verastem (NASDAQ:VSTM)

Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.