Verastem, Inc. (NASDAQ:VSTM) Receives Average Rating of “Buy” from Analysts

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.83.

Several analysts have weighed in on the company. 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 note on Wednesday, May 29th. B. Riley cut their price target on shares of Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. HC Wainwright cut their price objective on shares of Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial decreased their target price on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Hedge Funds Weigh In On Verastem

Several large investors have recently made changes to their positions in VSTM. Vanguard Group Inc. increased its holdings in Verastem by 0.9% in 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 in the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Verastem during the 1st quarter valued at about $131,000. Nantahala Capital Management LLC purchased a new position in shares of Verastem in the 2nd quarter valued at about $1,192,000. Rhumbline Advisers raised its holdings in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after purchasing an additional 28,119 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Verastem during the second quarter worth approximately $203,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Stock Performance

Shares of Verastem stock opened at $2.50 on Friday. The company has a 50 day moving average price of $2.76 and a 200 day moving average price of $7.30. The firm has a market capitalization of $63.32 million, a P/E ratio of -0.57 and a beta of 0.20. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The company had revenue of $10.00 million during the quarter. Sell-side analysts expect that Verastem will post -3.54 EPS for the current 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.