Verastem (NASDAQ:VSTM) Cut to Sell at StockNews.com

Verastem (NASDAQ:VSTM) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other analysts also recently issued reports about the company. B. Riley reduced their target price on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a report on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Friday, October 18th. Guggenheim initiated coverage on shares of Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Verastem in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and a consensus price target of $14.57.

Verastem Price Performance

Shares of VSTM stock traded up $0.14 during trading hours on Tuesday, reaching $3.96. The company had a trading volume of 602,217 shares, compared to its average volume of 594,033. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a fifty day moving average of $3.26 and a 200-day moving average of $3.96. The company has a market capitalization of $176.26 million, a price-to-earnings ratio of -1.24 and a beta of 0.14. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. On average, equities analysts anticipate that Verastem will post -3.24 earnings per share for the current year.

Institutional Trading of Verastem

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC acquired a new stake in Verastem during the third quarter worth about $41,000. SG Americas Securities LLC purchased a new stake in shares of Verastem during the 3rd quarter worth about $43,000. Apollon Wealth Management LLC raised its holdings in Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 10,457 shares during the period. Acadian Asset Management LLC acquired a new position in Verastem during the second quarter valued at approximately $82,000. Finally, Rhumbline Advisers raised its stake in shares of 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 acquiring an additional 28,119 shares during the period. 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.