HC Wainwright Reaffirms Buy Rating for Verastem (NASDAQ:VSTM)

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

VSTM has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Verastem in a research note on Friday, October 18th. Guggenheim assumed coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price target on the stock. Finally, StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Verastem Stock Down 5.6 %

Shares of NASDAQ:VSTM opened at $4.19 on Thursday. The stock has a 50-day simple moving average of $4.12 and a 200-day simple moving average of $3.30. The stock has a market capitalization of $186.48 million, a P/E ratio of -1.31 and a beta of 0.22. Verastem has a 1 year low of $2.10 and a 1 year high of $14.22. 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 released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.11. Equities analysts forecast that Verastem will post -3.16 earnings per share for the current year.

Hedge Funds Weigh In On Verastem

A number of institutional investors have recently made changes to their positions in the business. FMR LLC acquired a new stake in shares of Verastem during the third quarter worth approximately $41,000. SG Americas Securities LLC bought a new position in Verastem during the 3rd quarter valued at $43,000. Apollon Wealth Management LLC grew its holdings in Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Verastem in the 2nd quarter worth about $82,000. Finally, Rhumbline Advisers increased its position in shares of Verastem by 4,172.0% in the 2nd 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 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.