Verastem (NASDAQ:VSTM) Given “Overweight” Rating at Cantor Fitzgerald

Verastem (NASDAQ:VSTM)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports.

Other research analysts have also issued research reports about the company. HC Wainwright lowered their price target on Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. B. Riley lowered their price target on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Truist Financial lowered their price target on Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Guggenheim started coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Royal Bank of Canada lowered 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.57.

Verastem Trading Down 20.1 %

NASDAQ:VSTM opened at $2.66 on Friday. The stock has a market capitalization of $107.04 million, a PE ratio of -0.80 and a beta of 0.17. The business’s 50-day simple moving average is $2.66 and its 200-day simple moving average is $5.17. 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 has a fifty-two week low of $2.10 and a fifty-two week high of $14.22.

Verastem (NASDAQ:VSTM) last released 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 firm had revenue of $10.00 million during the quarter. Sell-side analysts expect that Verastem will post -3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VSTM. Cannon Global Investment Management LLC acquired a new position in shares of Verastem during the 1st quarter worth approximately $131,000. Vanguard Group Inc. boosted its stake in Verastem by 0.9% in the 1st 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 period. Bank of New York Mellon Corp bought a new stake in Verastem in the 2nd quarter valued at $203,000. Rhumbline Advisers boosted its stake in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 28,119 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Verastem in the 2nd quarter valued at $82,000. 88.37% of the stock is owned by institutional investors and hedge funds.

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.