Verastem, Inc. (NASDAQ:VSTM – Free Report) – Investment analysts at Cantor Fitzgerald increased their FY2024 earnings per share (EPS) estimates for Verastem in a note issued to investors on Monday, November 13th. Cantor Fitzgerald analyst P. Stavropoulos now expects that the biopharmaceutical company will post earnings per share of ($3.49) for the year, up from their prior estimate of ($3.69). The consensus estimate for Verastem’s current full-year earnings is ($3.98) per share.
Several other research analysts have also issued reports on VSTM. Royal Bank of Canada lowered their price target on shares of Verastem from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Mizuho reiterated a “buy” rating and set a $36.00 price target on shares of Verastem in a report on Tuesday, August 29th. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research note on Monday. B. Riley began coverage on shares of Verastem in a research note on Wednesday, September 27th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Truist Financial cut their price objective on shares of Verastem from $39.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.17.
Verastem Price Performance
VSTM stock opened at $6.14 on Thursday. The company has a market capitalization of $155.16 million, a P/E ratio of -1.52 and a beta of 0.56. The company has a fifty day moving average price of $7.88 and a 200-day moving average price of $8.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 7.33 and a current ratio of 7.33. Verastem has a 52-week low of $3.87 and a 52-week high of $15.18.
Hedge Funds Weigh In On Verastem
Hedge funds and other institutional investors have recently modified their holdings of the business. Eaton Vance Management purchased a new stake in shares of Verastem during the 1st quarter valued at $28,000. Mirabella Financial Services LLP bought a new stake in Verastem in the first quarter worth about $36,000. XTX Topco Ltd purchased a new position in Verastem in the first quarter valued at about $37,000. Virtu Financial LLC grew its position in shares of Verastem by 212.0% during the 2nd quarter. Virtu Financial LLC now owns 41,048 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 27,890 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Verastem during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.
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.
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