Verastem (NASDAQ:VSTM) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Verastem (NASDAQ:VSTM) in a research report report published on Friday morning, Benzinga reports.

Other equities analysts have also issued reports about the company. B. Riley dropped their price objective on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their price target on Verastem from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Guggenheim started 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. Finally, HC Wainwright reduced their price target on shares of Verastem from $17.50 to $7.00 and set a “buy” rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Trading Up 11.3 %

Shares of VSTM stock opened at $2.96 on Friday. Verastem has a 12 month low of $2.10 and a 12 month high of $14.22. The company has a market cap of $119.11 million, a PE ratio of -0.89 and a beta of 0.17. 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 business’s 50 day moving average is $2.67 and its two-hundred day moving average is $5.06.

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

Institutional Investors Weigh In On Verastem

A number of institutional investors have recently bought and sold shares of VSTM. Nantahala Capital Management LLC acquired a new position in shares of Verastem in the 2nd quarter valued at $1,192,000. Bank of New York Mellon Corp acquired a new position in Verastem in the second quarter worth about $203,000. Rhumbline Advisers lifted 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 worth $86,000 after purchasing an additional 28,119 shares during the period. Acadian Asset Management LLC bought a new position in Verastem during the second quarter worth about $82,000. Finally, SG Americas Securities LLC acquired a new stake in Verastem during the third quarter valued at approximately $43,000. 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.