Verastem (NASDAQ:VSTM) Earns Buy Rating from HC Wainwright

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $7.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 64.32% from the stock’s current price.

VSTM has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Verastem in a research note on Friday, October 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Guggenheim started coverage on Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price target for the company. Finally, StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Verastem Trading Down 7.4 %

Shares of VSTM stock opened at $4.26 on Thursday. The company has a market capitalization of $189.60 million, a price-to-earnings ratio of -1.34 and a beta of 0.22. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The firm has a 50-day moving average price of $4.07 and a 200 day moving average price of $3.29. Verastem has a twelve month low of $2.10 and a twelve month high of $14.22.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. Research analysts forecast that Verastem will post -3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. FMR LLC acquired a new stake in shares of Verastem in the third quarter worth $41,000. SG Americas Securities LLC acquired a new stake in Verastem in the 3rd quarter valued at $43,000. Apollon Wealth Management LLC raised its position 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 purchasing an additional 10,457 shares during the period. Acadian Asset Management LLC purchased a new position in Verastem in the second quarter valued at about $82,000. Finally, Rhumbline Advisers boosted its position 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 worth $86,000 after buying an additional 28,119 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.