Guggenheim started coverage on shares of Verastem (NASDAQ:VSTM – Free Report) in a research note released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $13.00 price target on the biopharmaceutical company’s stock.
VSTM has been the topic of a number of other research reports. Royal Bank of Canada cut their price target on shares of Verastem from $16.00 to $13.00 and set an outperform rating on the stock in a research note on Friday, August 9th. HC Wainwright cut their price target on shares of Verastem from $17.50 to $7.00 and set a buy rating on the stock in a research note on Monday, August 12th. StockNews.com raised shares of Verastem from a sell rating to a hold rating in a research report on Monday, August 12th. B. Riley cut their price objective on shares of Verastem from $21.00 to $7.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial cut their price objective on shares of Verastem from $18.00 to $15.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $14.57.
Check Out Our Latest Stock Report on Verastem
Verastem Stock Down 4.8 %
Verastem (NASDAQ:VSTM – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The firm had revenue of $10.00 million for the quarter. Analysts expect that Verastem will post -3.36 EPS for the current year.
Hedge Funds Weigh In On Verastem
A number of institutional investors have recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC acquired a new position in shares of Verastem in the first quarter valued at $131,000. Vanguard Group Inc. grew its stake 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 acquiring an additional 10,678 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Verastem in the second quarter valued at about $203,000. Rhumbline Advisers grew its stake 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. Finally, Acadian Asset Management LLC acquired a new position in shares of Verastem in the second quarter valued at about $82,000. 88.37% of the stock is currently 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.
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