StockNews.com Upgrades Verastem (NASDAQ:VSTM) to Hold

Verastem (NASDAQ:VSTM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright reiterated 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 lowered their price target on Verastem from $32.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th. Finally, Alliance Global Partners lowered their price target on Verastem from $34.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Verastem has an average rating of “Moderate Buy” and a consensus price target of $24.50.

Verastem Stock Up 2.8 %

Shares of NASDAQ:VSTM opened at $2.98 on Thursday. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.60. The business has a fifty day moving average of $7.15 and a two-hundred day moving average of $9.62. The stock has a market cap of $75.48 million, a P/E ratio of -0.68 and a beta of 0.27. Verastem has a 52-week low of $2.80 and a 52-week high of $14.22.

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

Hedge Funds Weigh In On Verastem

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in Verastem by 114,375.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 9,150 shares in the last quarter. Vanguard Group Inc. raised its position in Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after purchasing an additional 10,678 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in Verastem in the 1st quarter valued at about $131,000. Citigroup Inc. acquired a new stake in Verastem in the 3rd quarter valued at about $245,000. Finally, Sectoral Asset Management Inc. acquired a new stake in Verastem in the 3rd quarter valued at about $1,653,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

About Verastem

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.