Verastem, Inc. (NASDAQ:VSTM) Receives $14.57 Average PT from Analysts

Verastem, Inc. (NASDAQ:VSTM) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $14.57.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Verastem in a research note on Friday, October 18th. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Verastem in a research note on Friday, October 18th. Truist Financial cut their target price on Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a report on Friday, October 18th.

Institutional Investors Weigh In On Verastem

A number of large investors have recently modified their holdings of VSTM. Vanguard Group Inc. grew its holdings in shares of Verastem by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after buying an additional 10,678 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Verastem during the 2nd quarter worth about $203,000. Rhumbline Advisers grew its stake in Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 28,119 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Verastem in the second quarter valued at about $82,000. Finally, Nantahala Capital Management LLC purchased a new position in shares of Verastem in the second quarter worth about $1,192,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Price Performance

VSTM opened at $3.99 on Friday. The company has a market capitalization of $177.59 million, a price-to-earnings ratio of -1.25 and a beta of 0.14. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The business’s fifty day simple moving average is $3.21 and its 200-day simple moving average is $4.06.

Verastem (NASDAQ:VSTM) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.11. On average, equities research analysts anticipate that Verastem will post -3.24 earnings per share for the current fiscal year.

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.