Verastem (NASDAQ:VSTM) Upgraded at StockNews.com

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

A number of other equities analysts have also recently issued reports on VSTM. Royal Bank of Canada dropped their price target on shares of Verastem from $16.00 to $13.00 and set an outperform rating on the stock in a research note on Friday, August 9th. HC Wainwright reduced their price target on shares of Verastem from $17.50 to $7.00 and set a buy rating for the company in a research report on Monday. Alliance Global Partners reduced their price target on Verastem from $34.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, May 29th. B. Riley decreased their price target on Verastem from $21.00 to $7.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial reduced their target price on Verastem from $34.00 to $18.00 and set a buy rating on the stock in a report on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $17.86.

Verastem Price Performance

VSTM opened at $2.33 on Monday. The stock’s 50 day moving average price is $2.97 and its 200-day moving average price is $8.11. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.28 and a current ratio of 3.28. The stock has a market capitalization of $59.01 million, a PE ratio of -0.53 and a beta of 0.20.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.75. The firm had revenue of $10.00 million for the quarter. On average, equities research analysts predict that Verastem will post -4 EPS for the current year.

Institutional Trading of Verastem

Several institutional investors have recently added to or reduced their stakes in VSTM. Bank of New York Mellon Corp bought a new stake in shares of Verastem during the second quarter valued at approximately $203,000. Rhumbline Advisers raised 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 acquiring an additional 28,119 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Verastem during the second quarter valued at approximately $82,000. Cannon Global Investment Management LLC bought a new stake in shares of Verastem during the first quarter valued at approximately $131,000. Finally, Vanguard Group Inc. raised 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 valued at $13,699,000 after acquiring an additional 10,678 shares in the last quarter. 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.