Research Analysts’ Weekly Ratings Changes for Verastem (VSTM)

A number of research firms have changed their ratings and price targets for Verastem (NASDAQ: VSTM):

• 7/24/2024 – Verastem had its price target lowered by analysts at B. Riley from $21.00 to $7.00. They now have a “buy” rating on the stock.
• 7/23/2024 – Verastem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 7/12/2024 – Verastem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 7/8/2024 – Verastem had its price target lowered by analysts at Truist Financial Co. from $34.00 to $18.00. They now have a “buy” rating on the stock.
• 6/27/2024 – Verastem was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/12/2024 – Verastem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Verastem Trading Down 7.4 %

Shares of NASDAQ:VSTM traded down $0.22 during midday trading on Monday, reaching $2.74. 256,176 shares of the company’s stock were exchanged, compared to its average volume of 494,671. The firm’s 50 day simple moving average is $4.03 and its two-hundred day simple moving average is $8.91. The company has a debt-to-equity ratio of 1.60, a current ratio of 4.40 and a quick ratio of 4.40. The stock has a market cap of $69.40 million, a price-to-earnings ratio of -0.62 and a beta of 0.20. Verastem, Inc. has a fifty-two week low of $2.54 and a fifty-two week high of $14.22.

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). As a group, sell-side analysts forecast that Verastem, Inc. will post -4 EPS for the current fiscal year.

Institutional Investors Weigh In On Verastem

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 10,678 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Verastem in the second quarter valued at approximately $203,000. Cannon Global Investment Management LLC purchased a new stake in Verastem in the first quarter valued at approximately $131,000. Finally, International Assets Investment Management LLC lifted 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 buying an additional 9,150 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.