Verastem (NASDAQ:VSTM) PT Lowered to $18.00 at Truist Financial

Verastem (NASDAQ:VSTMFree Report) had its target price reduced by Truist Financial from $34.00 to $18.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on VSTM. HC Wainwright restated a buy rating and issued a $17.50 price target on shares of Verastem in a research note on Tuesday, May 28th. StockNews.com raised shares of Verastem from a sell rating to a hold rating in a research report on Thursday, June 27th. Alliance Global Partners decreased their price target on shares of Verastem from $34.00 to $20.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Finally, Royal Bank of Canada dropped their price objective on shares of Verastem from $32.00 to $16.00 and set an outperform rating for the company in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $22.21.

Get Our Latest Research Report on Verastem

Verastem Stock Performance

NASDAQ VSTM opened at $2.73 on Monday. The stock has a market cap of $69.15 million, a PE ratio of -0.62 and a beta of 0.19. The company has a debt-to-equity ratio of 1.60, a quick ratio of 4.40 and a current ratio of 4.40. The firm has a 50-day moving average of $6.08 and a 200-day moving average of $9.36. Verastem has a 52-week low of $2.60 and a 52-week high of $14.22.

Verastem (NASDAQ:VSTMGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.10). On average, sell-side analysts anticipate that Verastem will post -4.14 EPS for the current year.

Hedge Funds Weigh In On Verastem

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings 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 buying an additional 9,150 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in Verastem in the first quarter valued at about $131,000. Citigroup Inc. acquired a new position in Verastem during the third quarter worth about $245,000. Finally, Vanguard Group Inc. lifted 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 acquiring an additional 10,678 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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