Verastem (NASDAQ:VSTM) Now Covered by Guggenheim

Investment analysts at Guggenheim assumed coverage on shares of Verastem (NASDAQ:VSTM) in a research report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $13.00 price target on the biopharmaceutical company’s stock. Guggenheim’s target price indicates a potential upside of 383.27% from the company’s previous close.

Other research analysts have also issued reports about the stock. HC Wainwright dropped their price target on shares of Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada dropped their target price on shares of Verastem from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. B. Riley reduced their target price on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Truist Financial decreased their price target on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Verastem presently has an average rating of “Moderate Buy” and an average target price of $14.57.

Verastem Price Performance

VSTM stock opened at $2.69 on Monday. The company has a market capitalization of $108.25 million, a P/E ratio of -0.61 and a beta of 0.16. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22. The business has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $5.92. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.28 and a current ratio of 3.28.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.75. The company had revenue of $10.00 million for the quarter. Research analysts expect that Verastem will post -3.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Verastem in the 2nd quarter valued at about $82,000. Rhumbline Advisers raised its position in shares of Verastem by 4,172.0% in the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 28,119 shares during the period. Cannon Global Investment Management LLC purchased a new stake in shares of Verastem during the 1st quarter valued at approximately $131,000. Bank of New York Mellon Corp bought a new position in Verastem in the 2nd quarter worth approximately $203,000. Finally, Nantahala Capital Management LLC purchased a new position in Verastem in the 2nd quarter valued at approximately $1,192,000. Hedge funds and other 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.