HC Wainwright Reaffirms “Buy” Rating for Verastem (NASDAQ:VSTM)

HC Wainwright reissued their buy rating on shares of Verastem (NASDAQ:VSTM) in a research note released on Friday, Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts have also recently commented on VSTM. B. Riley reduced their target price on shares of Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Guggenheim assumed coverage on shares of Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Friday. Royal Bank of Canada dropped their price target on shares of Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Truist Financial dropped their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Trading Up 20.6 %

Shares of VSTM stock opened at $3.57 on Friday. The firm’s 50 day moving average price is $2.70 and its two-hundred day moving average price is $4.96. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88. The stock has a market cap of $143.66 million, a price-to-earnings ratio of -1.07 and a beta of 0.17.

Verastem (NASDAQ:VSTM) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The firm had revenue of $10.00 million for the quarter. On average, analysts anticipate that Verastem will post -3.36 EPS for the current year.

Institutional Trading of Verastem

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Verastem during the third quarter valued at $43,000. Nantahala Capital Management LLC bought a new stake in Verastem during the second quarter valued at $1,192,000. Acadian Asset Management LLC bought a new stake in Verastem during the second quarter valued at $82,000. Rhumbline Advisers increased its stake in 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 purchasing an additional 28,119 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Verastem during the second quarter worth about $203,000. 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.