Verastem (NASDAQ:VSTM) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Verastem (NASDAQ:VSTM) in a research report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $7.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Verastem in a research report on Friday, October 18th. StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Guggenheim began coverage on Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Verastem currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Verastem Stock Performance

NASDAQ VSTM opened at $4.44 on Thursday. The business’s 50 day moving average price is $4.10 and its 200-day moving average price is $3.30. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The company has a market cap of $197.61 million, a P/E ratio of -1.39 and a beta of 0.22. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. Sell-side analysts predict that Verastem will post -3.16 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

Several hedge funds have recently made changes to their positions in the company. Walleye Capital LLC raised its holdings in shares of Verastem by 493.7% in the third quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock valued at $646,000 after acquiring an additional 179,725 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in Verastem during the 2nd quarter valued at about $1,192,000. SG Americas Securities LLC purchased a new position in Verastem during the 3rd quarter valued at about $43,000. Apollon Wealth Management LLC raised its holdings in shares of Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 10,457 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Verastem in the 2nd quarter worth approximately $203,000. 88.37% of the stock is currently owned by hedge funds and other 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.