Verastem Downgraded by Oppenheimer to “Market Perform” (VSTM)
Verastem (NASDAQ:VSTM) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Separately, analysts at Deutsche Bank initiated coverage on shares of Verastem in a research note on Tuesday, May 6th. They set a “buy” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $21.00.
Shares of Verastem (NASDAQ:VSTM) traded down 7.61% on Monday, hitting $8.99. The stock had a trading volume of 336,345 shares. Verastem has a 1-year low of $7.10 and a 1-year high of $18.82. The stock’s 50-day moving average is $9.34 and its 200-day moving average is $11.12. The company’s market cap is $232.2 million.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.08. On average, analysts predict that Verastem will post $-2.03 earnings per share for the current fiscal year.
Verastem, Inc is a United States-based biopharmaceutical company. The Company focuses on discovering and developing drugs to treat cancer by targeting cancer stem cells, which are an underlying cause of tumor recurrence and metastasis.
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