Verastem’s (VSTM) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Verastem (NASDAQ:VSTM) in a report published on Thursday morning,Benzinga reports. They currently have a $7.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim began coverage on shares of Verastem in a research note on Monday, September 30th. They set a “buy” rating and a $13.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Verastem in a research report on Friday, October 18th. Finally, StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Verastem Trading Down 5.6 %

Shares of NASDAQ VSTM opened at $4.19 on Thursday. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $186.48 million, a PE ratio of -1.31 and a beta of 0.22. Verastem has a twelve month low of $2.10 and a twelve month high of $14.22. The stock has a fifty day simple moving average of $4.12 and a 200-day simple moving average of $3.30.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.11. On average, equities analysts forecast that Verastem will post -3.16 earnings per share for the current year.

Institutional Trading of Verastem

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its stake in Verastem by 546.7% in the 3rd quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company’s stock worth $167,000 after buying an additional 47,094 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Verastem by 67.6% in the third quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock worth $2,663,000 after acquiring an additional 359,060 shares during the last quarter. XTX Topco Ltd purchased a new stake in Verastem in the third quarter valued at approximately $112,000. State Street Corp grew its holdings in Verastem by 18.2% in the third quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock valued at $1,269,000 after purchasing an additional 65,265 shares during the period. Finally, Stifel Financial Corp increased its position in Verastem by 62.3% during the third quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 11,642 shares during the last quarter. Institutional investors and hedge funds 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.