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

Verastem (NASDAQ:VSTM)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports.

Several other research analysts have also recently commented on the company. StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Truist Financial reduced their target price on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Guggenheim assumed coverage on Verastem in a research note on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. B. Riley dropped their price objective on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada dropped their price objective on Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verastem presently has an average rating of “Moderate Buy” and a consensus price target of $14.57.

Verastem Stock Down 20.1 %

VSTM opened at $2.66 on Friday. Verastem has a 1-year low of $2.10 and a 1-year high of $14.22. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $107.04 million, a price-to-earnings ratio of -0.80 and a beta of 0.17. The business has a 50 day moving average of $2.66 and a 200-day moving average of $5.17.

Verastem (NASDAQ:VSTM) last issued its earnings results 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 during the quarter. As a group, sell-side analysts anticipate that Verastem will post -3.36 earnings per share for the current year.

Institutional Trading of Verastem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Verastem during the third quarter worth about $43,000. Acadian Asset Management LLC bought a new position in Verastem during the second quarter worth about $82,000. Rhumbline Advisers boosted its holdings in Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 28,119 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in Verastem during the first quarter worth about $131,000. Finally, Bank of New York Mellon Corp bought a new position in Verastem during the second quarter worth about $203,000. 88.37% of the stock is currently 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.