Verastem (NASDAQ:VSTM) Given New $7.00 Price Target at B. Riley

Verastem (NASDAQ:VSTM) had its target price decreased by research analysts at B. Riley from $21.00 to $7.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. B. Riley’s price objective would indicate a potential upside of 135.69% from the stock’s previous close.

A number of other brokerages have also commented on VSTM. HC Wainwright reissued a “buy” rating and set a $17.50 price target on shares of Verastem in a report on Tuesday, May 28th. 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 report on Tuesday, May 28th. StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday. Alliance Global Partners lowered their price objective on shares of Verastem from $34.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Truist Financial cut their target price on Verastem from $34.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.21.

Verastem Stock Performance

Verastem stock traded down $0.62 during midday trading on Wednesday, reaching $2.97. 1,900,867 shares of the stock traded hands, compared to its average volume of 487,714. The firm has a fifty day moving average price of $4.59 and a two-hundred day moving average price of $9.06. Verastem has a fifty-two week low of $2.57 and a fifty-two week high of $14.22. The firm has a market cap of $75.23 million, a price-to-earnings ratio of -0.67 and a beta of 0.19. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.60.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data 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, equities research analysts forecast that Verastem will post -4.14 earnings per share for the current year.

Institutional Trading of Verastem

A number of large investors have recently added to or reduced their stakes in VSTM. International Assets Investment Management LLC increased its holdings in shares of Verastem by 114,375.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 9,150 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after acquiring an additional 10,678 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Verastem in the 1st quarter worth $131,000. Finally, Citigroup Inc. acquired a new stake in shares of Verastem during the third quarter worth $245,000. 88.37% of the stock is currently owned by 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.