StockNews.com Downgrades Verastem (NASDAQ:VSTM) to Sell

StockNews.com cut shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a research note released on Tuesday morning.

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

Verastem Stock Performance

Shares of NASDAQ VSTM opened at $2.96 on Tuesday. Verastem has a one year low of $2.54 and a one year high of $14.22. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.60. The business has a fifty day simple moving average of $4.20 and a 200 day simple moving average of $8.98. The firm has a market capitalization of $74.98 million, a price-to-earnings ratio of -0.67 and a beta of 0.19.

Verastem (NASDAQ:VSTM) last issued 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). Sell-side analysts expect that Verastem will post -4.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Verastem by 114,375.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 9,150 shares during the period. Cannon Global Investment Management LLC bought a new stake in Verastem during the 1st quarter worth approximately $131,000. Citigroup Inc. acquired a new stake in Verastem during the 3rd quarter worth approximately $245,000. Bank of New York Mellon Corp bought a new position in Verastem in the second quarter valued at approximately $203,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after buying an additional 10,678 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

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.