Verastem, Inc. (NASDAQ:VSTM) Receives $13.00 Average Price Target from Brokerages

Shares of Verastem, Inc. (NASDAQ:VSTM) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.00.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Verastem in a research report on Friday, October 18th. StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. BTIG Research increased their target price on Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Mizuho lifted their price target on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Verastem in a research note on Thursday, December 19th.

Hedge Funds Weigh In On Verastem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC bought a new stake in Verastem in the third quarter worth approximately $41,000. SG Americas Securities LLC acquired a new stake in shares of Verastem in the 3rd quarter valued at $43,000. JPMorgan Chase & Co. lifted its stake in shares of Verastem by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,016 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 10,457 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Verastem during the second quarter worth $82,000. Institutional investors own 88.37% of the company’s stock.

Verastem Stock Performance

VSTM opened at $6.72 on Friday. The business has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $3.40. The firm has a market cap of $299.09 million, a PE ratio of -2.11 and a beta of 0.24. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. As a group, equities analysts predict that Verastem will post -3.16 EPS for the current fiscal year.

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.