Verastem (NASDAQ:VSTM – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
A number of other research firms have also recently issued reports on VSTM. Royal Bank of Canada cut their price objective on Verastem from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Alliance Global Partners dropped their price objective on shares of Verastem from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $17.50 target price on shares of Verastem in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.69.
Verastem Stock Up 2.6 %
VSTM traded up $0.09 during trading on Wednesday, reaching $3.56. 488,836 shares of the stock were exchanged, compared to its average volume of 428,959. The stock has a market cap of $90.17 million, a P/E ratio of -0.81 and a beta of 0.27. The company has a debt-to-equity ratio of 1.60, a quick ratio of 4.40 and a current ratio of 4.40. The stock’s 50 day moving average price is $9.23 and its two-hundred day moving average price is $10.01. Verastem has a twelve month low of $3.27 and a twelve month high of $14.22.
Verastem (NASDAQ:VSTM – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.10). Equities analysts expect that Verastem will post -4.14 EPS for the current year.
Institutional Investors Weigh In On Verastem
A number of large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of Verastem by 114,375.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 9,150 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Verastem during the 1st quarter worth approximately $131,000. Bank of New York Mellon Corp increased its position in Verastem by 27.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company’s stock worth $185,000 after purchasing an additional 4,939 shares in the last quarter. Citigroup Inc. bought a new position in Verastem in the 3rd quarter valued at approximately $245,000. Finally, Sectoral Asset Management Inc. acquired a new stake in Verastem in the third quarter valued at approximately $1,653,000. 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.