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

Shares of Verastem, Inc. (NASDAQ:VSTM) have been given a consensus rating of “Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.57.

Several analysts have recently weighed in on VSTM shares. B. Riley lowered their price objective on shares of Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Guggenheim started coverage on Verastem in a research report on Monday, September 30th. They issued a “buy” rating and a $13.00 target price for the company. Finally, Truist Financial reduced their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th.

Verastem Price Performance

Shares of NASDAQ VSTM opened at $3.28 on Monday. The stock’s 50-day simple moving average is $2.74 and its two-hundred day simple moving average is $4.89. Verastem has a twelve month low of $2.10 and a twelve month high of $14.22. The firm has a market capitalization of $83.07 million, a P/E ratio of -0.75 and a beta of 0.17. 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 (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.75. The company had revenue of $10.00 million during the quarter. As a group, equities analysts anticipate that Verastem will post -3.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently bought and sold shares of VSTM. Cannon Global Investment Management LLC bought a new stake in Verastem in the first quarter valued at approximately $131,000. Vanguard Group Inc. increased its stake in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after buying an additional 10,678 shares during the period. Bank of New York Mellon Corp bought a new stake in Verastem during the 2nd quarter valued at $203,000. Rhumbline Advisers raised its holdings 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 buying an additional 28,119 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Verastem during the 2nd quarter valued at $82,000. 88.37% of the stock is currently owned by institutional investors.

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.