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

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

A number of other equities research analysts have also commented on the company. Truist Financial lowered their price target on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. B. Riley decreased their target price on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Friday, October 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price 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 given a buy rating to the company’s stock. According to data from MarketBeat, Verastem presently has an average rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Stock Down 7.0 %

NASDAQ VSTM traded down $0.27 on Thursday, reaching $3.60. The company had a trading volume of 767,266 shares, compared to its average volume of 570,341. The stock has a market capitalization of $144.86 million, a P/E ratio of -1.08 and a beta of 0.14. The company’s fifty day moving average is $3.00 and its 200 day moving average is $4.36. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The company had revenue of $10.00 million during the quarter. Sell-side analysts anticipate that Verastem will post -3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VSTM. SG Americas Securities LLC bought a new position in Verastem in the 3rd quarter worth about $43,000. Apollon Wealth Management LLC boosted its stake in Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 10,457 shares during the period. Acadian Asset Management LLC bought a new position in Verastem in the 2nd quarter worth about $82,000. Rhumbline Advisers boosted its stake in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 28,119 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Verastem in the 2nd quarter worth about $203,000. Institutional investors 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.