Zacks Investment Research cut shares of Verastem Inc (NASDAQ:VSTM) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Verastem, Inc. is a biopharmaceutical company focused on discovering and developing novel drugs that selectively target cancer stem cells. The company discovers, researches, and develops new medicines for the treatment of major cancers such as breast cancer. Verastem, Inc. is based in Cambridge, Massachusetts. “

A number of other analysts have also commented on VSTM. HC Wainwright restated a buy rating on shares of Verastem in a research note on Saturday. Cantor Fitzgerald restated a buy rating on shares of Verastem in a research note on Wednesday, November 2nd. Finally, Jefferies Group restated a hold rating and set a $1.50 price target on shares of Verastem in a research note on Friday, August 5th.

Verastem (NASDAQ:VSTM) remained flat at $1.26 during mid-day trading on Tuesday. The stock had a trading volume of 51,540 shares. Verastem has a 52 week low of $1.05 and a 52 week high of $2.43. The stock’s 50 day moving average is $1.32 and its 200-day moving average is $1.36. The firm’s market cap is $46.61 million.

Verastem (NASDAQ:VSTM) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.03. On average, analysts predict that Verastem will post ($0.92) EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of VSTM. Jacobs Levy Equity Management Inc. purchased a new stake in Verastem during the first quarter valued at about $585,000. Emerald Acquisition Ltd. purchased a new stake in Verastem during the second quarter valued at about $179,000. Granite Point Capital Management L.P. purchased a new stake in Verastem during the second quarter valued at about $179,000. GSA Capital Partners LLP purchased a new stake in Verastem during the second quarter valued at about $179,000. Finally, AWM Investment Company Inc. raised its stake in Verastem by 40.0% in the second quarter. AWM Investment Company Inc. now owns 1,400,000 shares of the biopharmaceutical company’s stock valued at $1,820,000 after buying an additional 400,000 shares during the last quarter.

About Verastem

Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.

5 Day Chart for NASDAQ:VSTM

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