Verastem, Inc. (NASDAQ:VSTM) Receives $25.69 Consensus Price Target from Analysts

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.69.

Several research analysts recently weighed in on VSTM shares. StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. HC Wainwright reissued a “buy” rating and set a $17.50 price target on shares of Verastem in a research report on Tuesday, May 28th. Royal Bank of Canada dropped their price target on Verastem from $32.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, Alliance Global Partners dropped their price target on Verastem from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th.

Verastem Trading Down 0.6 %

Verastem stock opened at $3.25 on Tuesday. Verastem has a 1 year low of $3.14 and a 1 year high of $14.22. The company has a debt-to-equity ratio of 1.60, a quick ratio of 4.40 and a current ratio of 4.40. The firm has a market cap of $82.31 million, a price-to-earnings ratio of -0.74 and a beta of 0.27. The firm’s 50 day moving average price is $8.08 and its two-hundred day moving average price is $9.80.

Verastem (NASDAQ:VSTM) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.10). On average, research analysts predict that Verastem will post -4.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sectoral Asset Management Inc. acquired a new position in Verastem in the 3rd quarter worth about $1,653,000. Citigroup Inc. bought a new stake in shares of Verastem during the 3rd quarter worth about $245,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Verastem by 116.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company’s stock worth $10,569,000 after acquiring an additional 700,000 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Verastem by 114,375.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 9,150 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Verastem by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after acquiring an additional 10,678 shares in the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.

Verastem Company Profile

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.