Verastem (NASDAQ:VSTM) Given Outperform Rating at Royal Bank of Canada

Verastem (NASDAQ:VSTM - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $13.00 target price on the biopharmaceutical company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 339.19% from the company's previous close.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Verastem from a "sell" rating to a "hold" rating in a research note on Monday, August 12th. Guggenheim began coverage on shares of Verastem in a research note on Monday, September 30th. They issued a "buy" rating and a $13.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Verastem in a research note on Friday. B. Riley reduced their target price on shares of Verastem from $21.00 to $7.00 and set a "buy" rating for the company in a research note on Wednesday, July 24th. Finally, HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Verastem in a research note on Friday. One research analyst has rated the stock with a hold 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 $14.57.

Verastem Stock Up 11.3 %

VSTM stock traded up $0.30 during midday trading on Friday, reaching $2.96. 1,932,087 shares of the company's stock traded hands, compared to its average volume of 540,258. The company has a market cap of $119.11 million, a price-to-earnings ratio of -0.89 and a beta of 0.17. The firm's fifty day moving average price is $2.67 and its 200-day moving average price is $5.11. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($1.06) by $0.75. The business had revenue of $10.00 million for the quarter. As a group, sell-side analysts forecast that Verastem will post -3.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verastem

Several institutional investors have recently added to or reduced their stakes in VSTM. SG Americas Securities LLC bought a new stake in shares of Verastem during the third quarter valued at about $43,000. Nantahala Capital Management LLC bought a new stake in shares of Verastem during the second quarter valued at about $1,192,000. Acadian Asset Management LLC bought a new stake in shares of Verastem during the second quarter valued at about $82,000. Rhumbline Advisers increased its position in shares of Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company's stock valued at $86,000 after buying an additional 28,119 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Verastem during the second quarter valued at about $203,000. 88.37% of the stock is owned by hedge funds and other 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.