Verastem (NASDAQ:VSTM) Research Coverage Started at Guggenheim

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

VSTM has been the topic of several other reports. Truist Financial lowered their target price on Verastem from $18.00 to $15.00 and set a buy rating on the stock in a report on Tuesday, August 13th. Royal Bank of Canada reduced their price target on shares of Verastem from $16.00 to $13.00 and set an outperform rating on the stock in a research report on Friday, August 9th. HC Wainwright reduced their price target on shares of Verastem from $17.50 to $7.00 and set a buy rating on the stock in a research report on Monday, August 12th. B. Riley reduced their price target on shares of Verastem from $21.00 to $7.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com raised shares of Verastem from a sell rating to a hold rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $14.57.

Verastem Stock Performance

NASDAQ VSTM opened at $2.91 on Monday. The stock has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $5.81. The firm has a market capitalization of $73.70 million, a P/E ratio of -0.67 and a beta of 0.16. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.28 and a current ratio of 3.28.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.75. The business had revenue of $10.00 million during the quarter. On average, equities analysts forecast that Verastem will post -3.36 earnings per share for the current year.

Institutional Trading of Verastem

Several hedge funds and other institutional investors have recently bought and sold shares of VSTM. Vanguard Group Inc. raised its stake in Verastem by 0.9% during the first 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 during the period. Nantahala Capital Management LLC acquired a new stake in shares of Verastem in the second quarter worth $1,192,000. Bank of New York Mellon Corp acquired a new stake in shares of Verastem in the second quarter worth $203,000. Rhumbline Advisers increased 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 acquiring an additional 28,119 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Verastem in the second quarter worth $82,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.