StockNews.com Lowers Verastem (NASDAQ:VSTM) to Sell

StockNews.com downgraded shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a report published on Tuesday morning.

Several other equities analysts also recently weighed in on VSTM. HC Wainwright reissued a buy rating and set a $17.50 target price on shares of Verastem in a research report on Tuesday, May 28th. Alliance Global Partners cut their price target on Verastem from $34.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Royal Bank of Canada reduced their price target on shares of Verastem from $32.00 to $16.00 and set an outperform rating for the company in a report on Tuesday, May 28th. Finally, Truist Financial reduced their price target on shares of Verastem from $34.00 to $18.00 and set a buy rating for the company in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $20.21.

Verastem Trading Down 0.3 %

Shares of Verastem stock opened at $2.96 on Tuesday. The company has a fifty day moving average of $4.20 and a 200 day moving average of $8.98. The company has a market capitalization of $74.98 million, a P/E ratio of -0.67 and a beta of 0.19. Verastem has a fifty-two week low of $2.54 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 1.60, a quick ratio of 4.40 and a current ratio of 4.40.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.10). On average, sell-side analysts anticipate that Verastem will post -4.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verastem

Several institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in 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 acquiring an additional 9,150 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Verastem by 0.9% during the first 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 purchased a new stake in shares of Verastem during the first quarter worth about $131,000. Citigroup Inc. purchased a new stake in shares of Verastem during the third quarter worth about $245,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Verastem during the second quarter worth about $203,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.