Verastem (NASDAQ:VSTM) Downgraded 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 report released on Friday.

Other equities analysts also recently issued research reports about the stock. Truist Financial cut their price target on shares of Verastem from $34.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday. Alliance Global Partners dropped their price objective on shares of Verastem from $34.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. HC Wainwright reissued a “buy” rating and issued a $17.50 price objective on shares of Verastem in a research report on Tuesday, May 28th. Finally, Royal Bank of Canada dropped their price objective on shares of Verastem from $32.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.21.

Verastem Trading Up 12.8 %

Shares of VSTM traded up $0.38 on Friday, hitting $3.36. 1,395,831 shares of the stock traded hands, compared to its average volume of 479,684. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $85.11 million, a P/E ratio of -0.76 and a beta of 0.19. The stock’s 50 day moving average is $5.78 and its two-hundred day moving average is $9.28. Verastem has a 1 year low of $2.60 and a 1 year high of $14.22.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.10). As a group, sell-side analysts predict that Verastem will post -4.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VSTM. Citigroup Inc. bought a new position in shares of Verastem in the 3rd quarter worth about $245,000. Cannon Global Investment Management LLC bought a new stake in Verastem in the 1st quarter valued at about $131,000. Vanguard Group Inc. lifted its position in Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after purchasing an additional 10,678 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Verastem by 114,375.0% in the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 9,150 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

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.