Verastem (NASDAQ:VSTM) Coverage Initiated by Analysts at Guggenheim

Guggenheim started coverage on shares of Verastem (NASDAQ:VSTM) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $13.00 price objective on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the stock. StockNews.com upgraded shares of Verastem from a sell rating to a hold rating in a research report on Monday, August 12th. B. Riley lowered their target price on shares of Verastem from $21.00 to $7.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Truist Financial lowered their target price on shares of Verastem from $18.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday, August 13th. HC Wainwright lowered their target price 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. Finally, Royal Bank of Canada lowered their target price 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Verastem presently has a consensus rating of Moderate Buy and a consensus target price of $14.57.

Verastem Price Performance

Shares of VSTM stock opened at $2.91 on Monday. The firm has a market cap of $73.70 million, a P/E ratio of -0.67 and a beta of 0.16. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28. Verastem has a 1-year low of $2.10 and a 1-year high of $14.22. The firm has a fifty day moving average of $2.57 and a two-hundred day moving average of $5.81.

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

Institutional Investors Weigh In On Verastem

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Verastem by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after purchasing an additional 10,678 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of Verastem during the 2nd quarter worth about $1,192,000. Bank of New York Mellon Corp acquired a new stake in shares of Verastem during the 2nd quarter worth about $203,000. Rhumbline Advisers increased its position in shares of Verastem by 4,172.0% during 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 in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Verastem during the 2nd quarter worth about $82,000. Institutional investors and hedge funds 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.