Verastem (NASDAQ:VSTM) Stock Rating Lowered by StockNews.com

Verastem (NASDAQ:VSTM) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Verastem in a research report on Friday, October 18th. B. Riley cut their target price on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Verastem in a research note on Friday, October 18th. Truist Financial reduced their target price on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Price Performance

Shares of Verastem stock opened at $3.95 on Thursday. The firm has a market cap of $158.96 million, a PE ratio of -1.24 and a beta of 0.14. The stock has a 50 day moving average of $3.03 and a 200 day moving average of $4.32. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88. Verastem has a 12 month low of $2.10 and a 12 month high of $14.22.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.75. The business had revenue of $10.00 million during the quarter. On average, research analysts expect that Verastem will post -3.36 EPS for the current fiscal year.

Institutional Trading of Verastem

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Verastem in the third quarter worth approximately $43,000. Apollon Wealth Management LLC lifted its holdings in shares of Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 10,457 shares during the period. Acadian Asset Management LLC bought a new position in shares of Verastem during the 2nd quarter worth $82,000. Rhumbline Advisers increased its stake in shares of 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 buying an additional 28,119 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Verastem in the second quarter valued at about $203,000. Institutional investors own 88.37% of the company’s stock.

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.