Guggenheim started coverage on shares of Verastem (NASDAQ:VSTM – Free Report) in a report issued on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $13.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts have also issued reports on VSTM. Truist Financial lowered their target price on shares of Verastem from $18.00 to $15.00 and set a buy rating on the stock in a research note on Tuesday, August 13th. HC Wainwright reduced their price target on shares of Verastem from $17.50 to $7.00 and set a buy rating for the company in a report on Monday, August 12th. Royal Bank of Canada reduced their price target on shares of Verastem from $16.00 to $13.00 and set an outperform rating for the company in a report on Friday, August 9th. StockNews.com raised shares of Verastem from a sell rating to a hold rating in a report on Monday, August 12th. Finally, B. Riley reduced their price target on shares of Verastem from $21.00 to $7.00 and set a buy rating for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $14.57.
Check Out Our Latest Stock Report on Verastem
Verastem Stock Performance
Verastem (NASDAQ:VSTM – Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The firm had revenue of $10.00 million during the quarter. Equities analysts expect that Verastem will post -3.36 EPS for the current fiscal year.
Hedge Funds Weigh In On Verastem
Several institutional investors have recently added to or reduced their stakes in VSTM. SG Americas Securities LLC bought a new position in Verastem during the 3rd quarter valued at about $43,000. Acadian Asset Management LLC acquired a new stake in Verastem in the 2nd quarter valued at about $82,000. Rhumbline Advisers increased its position in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 28,119 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in Verastem in the 1st quarter valued at about $131,000. Finally, Bank of New York Mellon Corp acquired a new stake in Verastem in the 2nd quarter valued at about $203,000. 88.37% of the stock is owned by institutional investors.
About Verastem
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.
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