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 note published on Tuesday morning.

VSTM has been the topic of several other research reports. HC Wainwright reiterated a buy rating and issued a $17.50 price objective on shares of Verastem in a research note on Tuesday, May 28th. Royal Bank of Canada dropped their price target on shares of Verastem from $32.00 to $16.00 and set an outperform rating on the stock in a research note on Tuesday, May 28th. Truist Financial lowered their target price on Verastem from $34.00 to $18.00 and set a buy rating on the stock in a research note on Monday, July 8th. Finally, Alliance Global Partners cut their price target on Verastem from $34.00 to $20.00 and set a buy rating for the company in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $20.21.

Verastem Stock Performance

Shares of Verastem stock opened at $2.97 on Tuesday. Verastem has a 12 month low of $2.54 and a 12 month high of $14.22. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.60. The stock has a market cap of $75.23 million, a PE ratio of -0.67 and a beta of 0.19. The business has a fifty day simple moving average of $4.20 and a 200-day simple moving average of $8.98.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.10). On average, sell-side analysts anticipate that Verastem will post -4.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VSTM. Vanguard Group Inc. grew its holdings in Verastem by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after purchasing an additional 10,678 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Verastem in the 1st quarter valued at $131,000. International Assets Investment Management LLC raised its holdings in Verastem by 114,375.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 9,150 shares during the period. Finally, Citigroup Inc. acquired a new position in Verastem during the 3rd quarter worth $245,000. 88.37% of the stock is owned by institutional investors.

About Verastem

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.