Verastem (NASDAQ:VSTM) Upgraded to “Hold” by StockNews.com

Verastem (NASDAQ:VSTMGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Other research analysts have also issued reports about the stock. HC Wainwright reissued a “buy” rating on shares of Verastem in a research report on Tuesday, March 29th. Royal Bank of Canada initiated coverage on shares of Verastem in a research report on Thursday, April 14th. They set an “outperform” rating and a $5.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Friday, April 1st. Truist Financial initiated coverage on shares of Verastem in a research report on Wednesday, March 9th. They set a “buy” rating and a $6.00 price target on the stock. Finally, Zacks Investment Research raised shares of Verastem from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $5.63.

Shares of NASDAQ VSTM opened at $1.23 on Friday. The stock has a market capitalization of $229.22 million, a P/E ratio of -3.00 and a beta of 0.88. The company has a 50-day moving average price of $1.39 and a 200-day moving average price of $1.78. Verastem has a 1 year low of $1.00 and a 1 year high of $4.94. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.72 and a quick ratio of 6.72.

Verastem (NASDAQ:VSTMGet Rating) last issued its quarterly earnings data on Monday, May 9th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Verastem had a negative net margin of 2,007.44% and a negative return on equity of 84.99%. As a group, equities research analysts anticipate that Verastem will post -0.39 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mirabella Financial Services LLP bought a new stake in shares of Verastem in the first quarter valued at approximately $36,000. Eaton Vance Management bought a new stake in shares of Verastem in the first quarter valued at approximately $28,000. Goldman Sachs Group Inc. raised its position in shares of Verastem by 17.3% in the first quarter. Goldman Sachs Group Inc. now owns 323,731 shares of the biopharmaceutical company’s stock valued at $457,000 after purchasing an additional 47,772 shares during the period. Wellington Management Group LLP raised its position in shares of Verastem by 7.5% in the first quarter. Wellington Management Group LLP now owns 370,753 shares of the biopharmaceutical company’s stock valued at $522,000 after purchasing an additional 26,000 shares during the period. Finally, Wetherby Asset Management Inc. bought a new stake in shares of Verastem in the first quarter valued at approximately $134,000. 73.25% of the stock is currently owned by institutional investors.

About Verastem (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.

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