Verastem (NASDAQ:VSTM) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a research report report published on Thursday morning.

Other research analysts have also recently issued reports about the stock. 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. B. Riley cut their price objective on shares of Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial lowered their target price on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Verastem in a research note on Friday, October 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Verastem currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.57.

Verastem Trading Up 9.7 %

NASDAQ:VSTM opened at $3.95 on Thursday. The business’s 50-day moving average is $3.03 and its two-hundred day moving average is $4.29. The firm has a market capitalization of $158.96 million, a PE ratio of -1.24 and a beta of 0.14. Verastem has a 12 month low of $2.10 and a 12 month high of $14.22. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28.

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

Institutional Trading of Verastem

Several institutional investors and hedge funds have recently bought and sold shares of VSTM. Apollon Wealth Management LLC increased its holdings in shares of Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 10,457 shares during the last quarter. 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 acquired a new stake in shares of Verastem during the second quarter worth $82,000. Finally, Rhumbline Advisers lifted its position in shares of Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 28,119 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.