Verastem (NASDAQ:VSTM) Given Buy Rating at HC Wainwright

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

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday. Guggenheim initiated coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 target price for the company. StockNews.com upgraded Verastem from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Truist Financial decreased their price target on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada cut their price objective on Verastem from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.57.

Verastem Price Performance

Shares of Verastem stock opened at $2.96 on Friday. The stock has a market cap of $119.11 million, a price-to-earnings ratio of -0.89 and a beta of 0.17. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.28 and a current ratio of 3.28. The stock has a 50 day moving average price of $2.67 and a 200-day moving average price of $5.11. Verastem has a one year low of $2.10 and a one year high of $14.22.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC purchased a new stake in shares of Verastem in the 2nd quarter worth $1,192,000. Bank of New York Mellon Corp purchased a new position in shares of Verastem during the second quarter valued at $203,000. Rhumbline Advisers raised its holdings in shares of Verastem by 4,172.0% in the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 28,119 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Verastem in the second quarter worth about $82,000. Finally, SG Americas Securities LLC bought a new position in Verastem during the 3rd quarter worth about $43,000. Institutional investors own 88.37% of the company’s stock.

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.