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

Verastem (NASDAQ:VSTM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other research analysts also recently commented on VSTM. HC Wainwright increased their target price on shares of Verastem from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, March 24th. Mizuho dropped their price objective on Verastem from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. BTIG Research boosted their target price on Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Guggenheim raised their price target on Verastem from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Finally, Jefferies Financial Group initiated coverage on Verastem in a research note on Thursday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.89.

Verastem Stock Performance

Shares of VSTM stock opened at $5.74 on Friday. Verastem has a 12 month low of $2.10 and a 12 month high of $13.52. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The company has a market cap of $295.55 million, a P/E ratio of -1.80 and a beta of 0.57. The firm has a fifty day moving average price of $5.95 and a 200 day moving average price of $5.04.

Verastem (NASDAQ:VSTM) last issued its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.57). Sell-side analysts predict that Verastem will post -3.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in shares of Verastem by 51.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 1,698 shares in the last quarter. FMR LLC purchased a new stake in shares of Verastem during the 3rd quarter worth $41,000. JPMorgan Chase & Co. grew its stake in shares of Verastem by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 6,016 shares during the period. ProShare Advisors LLC purchased a new position in shares of Verastem in the 4th quarter valued at about $56,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Verastem in the fourth quarter valued at about $59,000. Institutional investors and hedge funds 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.