Verastem's (VSTM) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Verastem (NASDAQ:VSTM - Free Report) in a research note published on Monday, Benzinga reports. HC Wainwright currently has a $17.50 price objective on the biopharmaceutical company's stock.

A number of other brokerages also recently issued reports on VSTM. StockNews.com downgraded Verastem from a hold rating to a sell rating in a research note on Tuesday, March 12th. Royal Bank of Canada restated an outperform rating and set a $32.00 price target on shares of Verastem in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $28.79.

Verastem Trading Up 1.4 %

NASDAQ VSTM traded up $0.17 on Monday, reaching $12.02. The company had a trading volume of 91,359 shares, compared to its average volume of 131,673. The firm has a market cap of $304.20 million, a price-to-earnings ratio of -2.73 and a beta of 0.58. Verastem has a fifty-two week low of $4.68 and a fifty-two week high of $15.18. The business has a 50 day moving average of $11.13 and a two-hundred day moving average of $9.93. The company has a debt-to-equity ratio of 1.60, a current ratio of 4.40 and a quick ratio of 4.40.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.20). Analysts forecast that Verastem will post -4.31 EPS for the current year.

Hedge Funds Weigh In On Verastem

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Verastem by 114,375.0% during 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 in the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of Verastem during the first quarter worth about $131,000. Bank of New York Mellon Corp raised its holdings in shares of Verastem by 27.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company's stock worth $185,000 after acquiring an additional 4,939 shares during the last quarter. Citigroup Inc. bought a new position in Verastem in the 3rd quarter valued at about $245,000. Finally, Sectoral Asset Management Inc. acquired a new position in Verastem during the 3rd quarter valued at about $1,653,000. 88.37% of the stock is owned by institutional investors and hedge funds.

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.