Upgrades Verastem (NASDAQ:VSTM) to “Hold”

Verastem (NASDAQ:VSTMGet Free Report) was upgraded by research analysts at from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Other analysts also recently issued research reports about the stock. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Verastem in a report on Tuesday, November 21st. Truist Financial cut their price target on shares of Verastem from $39.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.71.

Check Out Our Latest Stock Analysis on VSTM

Verastem Stock Down 4.4 %

VSTM stock opened at $13.45 on Tuesday. The company has a market cap of $340.29 million, a price-to-earnings ratio of -3.33 and a beta of 0.47. The company has a current ratio of 7.33, a quick ratio of 7.33 and a debt-to-equity ratio of 0.48. Verastem has a 12 month low of $4.20 and a 12 month high of $15.18. The firm has a 50-day moving average of $9.45 and a two-hundred day moving average of $8.83.

Verastem (NASDAQ:VSTMGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.17. As a group, analysts forecast that Verastem will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert E. Gagnon sold 9,204 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $10.95, for a total transaction of $100,783.80. Following the completion of the transaction, the director now owns 37,008 shares of the company’s stock, valued at approximately $405,237.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 9,820 shares of company stock valued at $105,523. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Verastem

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position 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 purchasing an additional 9,150 shares during the period. Tower Research Capital LLC TRC purchased a new position in Verastem in the 2nd quarter valued at approximately $74,000. Eaton Vance Management purchased a new position in Verastem in the 1st quarter valued at approximately $28,000. Bank of New York Mellon Corp boosted its position in Verastem by 27.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company’s stock valued at $185,000 after buying an additional 4,939 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Verastem by 19.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 24,432 shares of the biopharmaceutical company’s stock valued at $182,000 after buying an additional 3,973 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

About Verastem

(Get Free Report)

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.

See Also

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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