Verastem (NASDAQ:VSTM) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Verastem (NASDAQ:VSTM) from a sell rating to a hold rating in a report published on Thursday.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada decreased their price target on shares of Verastem from $32.00 to $16.00 and set an outperform rating for the company in a report on Tuesday, May 28th. Alliance Global Partners decreased their target price on shares of Verastem from $34.00 to $20.00 and set a buy rating for the company in a research note on Wednesday, May 29th. Finally, HC Wainwright reaffirmed a buy rating and issued a $17.50 price target on shares of Verastem in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $24.50.

Verastem Stock Performance

Verastem stock opened at $2.90 on Thursday. The company has a 50 day moving average price of $7.29 and a 200 day moving average price of $9.65. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.60. Verastem has a 52 week low of $2.80 and a 52 week high of $14.22.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.10). On average, equities analysts forecast that Verastem will post -4.14 earnings per share for the current year.

Hedge Funds Weigh In On Verastem

Several hedge funds have recently bought and sold shares of VSTM. International Assets Investment Management LLC boosted its stake in shares of 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 worth $75,000 after acquiring an additional 9,150 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in Verastem during the first quarter valued at approximately $131,000. Citigroup Inc. acquired a new position in Verastem during the third quarter valued at approximately $245,000. Sectoral Asset Management Inc. bought a new position in shares of Verastem in the third quarter valued at approximately $1,653,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Verastem by 116.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company’s stock worth $10,569,000 after buying an additional 700,000 shares during the last quarter. 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.