Verastem (NASDAQ:VSTM) Stock Rating Upgraded by ValuEngine

Verastem (NASDAQ:VSTM) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts also recently weighed in on VSTM. Roth Capital lowered their target price on shares of Verastem from $14.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. BTIG Research downgraded shares of Verastem from a “buy” rating to a “neutral” rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. HC Wainwright restated a “buy” rating and issued a $2.50 target price on shares of Verastem in a research note on Friday, May 10th. Finally, Cantor Fitzgerald began coverage on shares of Verastem in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.46.

Shares of NASDAQ VSTM traded down $0.19 during midday trading on Thursday, reaching $1.40. 1,331,115 shares of the company’s stock traded hands, compared to its average volume of 1,289,089. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57. The stock’s 50 day moving average is $1.50. Verastem has a one year low of $1.16 and a one year high of $10.35. The stock has a market cap of $110.82 million, a P/E ratio of -1.02 and a beta of 2.94.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.03). Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. The business had revenue of $3.14 million for the quarter, compared to the consensus estimate of $2.22 million. Equities analysts predict that Verastem will post -1.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in VSTM. Stratos Wealth Partners LTD. purchased a new position in shares of Verastem in the first quarter worth $30,000. Amalgamated Bank purchased a new position in shares of Verastem in the fourth quarter worth $35,000. Principal Financial Group Inc. purchased a new position in shares of Verastem in the fourth quarter worth $35,000. BNP Paribas Arbitrage SA purchased a new position in shares of Verastem in the first quarter worth $42,000. Finally, MML Investors Services LLC raised its holdings in shares of Verastem by 70.0% in the fourth quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 7,000 shares during the last quarter. Institutional investors own 43.80% of the company’s stock.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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