Cantor Fitzgerald Reiterates “Overweight” Rating for Verastem (NASDAQ:VSTM)

Verastem (NASDAQ:VSTM)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports.

Several other research firms also recently commented on VSTM. StockNews.com raised shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday, August 12th. B. Riley decreased their price target 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. HC Wainwright cut their price objective on Verastem from $17.50 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada decreased their target price on Verastem from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Truist Financial dropped their price target on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.57.

Verastem Stock Up 11.3 %

NASDAQ VSTM opened at $2.96 on Friday. The stock’s 50-day moving average price is $2.67 and its 200-day moving average price is $5.11. The company has a market capitalization of $74.96 million, a P/E ratio of -0.67 and a beta of 0.17. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22.

Verastem (NASDAQ:VSTM) last issued 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 firm had revenue of $10.00 million for the quarter. On average, equities research analysts predict that Verastem will post -3.36 earnings per share for the current year.

Hedge Funds Weigh In On Verastem

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after buying an additional 10,678 shares during the period. Cannon Global Investment Management LLC bought a new stake in shares of Verastem during the first quarter worth $131,000. SG Americas Securities LLC bought a new stake in shares of Verastem during the third quarter worth $43,000. Acadian Asset Management LLC purchased a new stake in shares of Verastem during the second quarter valued at $82,000. Finally, Rhumbline Advisers grew its holdings 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 purchasing an additional 28,119 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

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.