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

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average rating of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $25.69.

A number of analysts have recently commented on VSTM shares. 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. Alliance Global Partners dropped their target price on Verastem from $34.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.50 price target on shares of Verastem in a research note on Tuesday, May 28th.

Verastem Stock Performance

Shares of VSTM stock opened at $3.47 on Tuesday. The company’s fifty day moving average price is $8.58 and its 200-day moving average price is $9.92. The stock has a market cap of $87.90 million, a PE ratio of -0.79 and a beta of 0.28. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.60. Verastem has a 12 month low of $3.27 and a 12 month high of $14.22.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data 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, equities analysts expect that Verastem will post -4.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Verastem

A number of institutional investors and hedge funds have recently modified their holdings of VSTM. International Assets Investment Management LLC lifted its holdings in Verastem by 114,375.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 9,150 shares during the period. Vanguard Group Inc. increased its position 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 valued at $13,699,000 after purchasing an additional 10,678 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Verastem in the 1st quarter worth approximately $131,000. Citigroup Inc. purchased a new position in shares of Verastem in the third quarter worth approximately $245,000. Finally, Sectoral Asset Management Inc. purchased a new position in shares of Verastem in the third quarter worth approximately $1,653,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.