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

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eight 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 $14.57.

VSTM has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note on Friday. Truist Financial cut their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Verastem in a research note on Friday. StockNews.com raised shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, B. Riley reduced their price target on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, July 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Verastem during the third quarter worth approximately $43,000. Nantahala Capital Management LLC acquired a new stake in Verastem during the 2nd quarter worth approximately $1,192,000. Acadian Asset Management LLC bought a new stake in Verastem in the 2nd quarter valued at $82,000. Rhumbline Advisers grew 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 valued at $86,000 after buying an additional 28,119 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Verastem during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Trading Up 11.3 %

Shares of NASDAQ:VSTM opened at $2.96 on Monday. The company’s 50-day moving average price is $2.67 and its two-hundred day moving average price is $5.06. Verastem has a one year low of $2.10 and a one year high of $14.22. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28. The stock has a market capitalization of $119.11 million, a PE ratio of -0.89 and a beta of 0.17.

Verastem (NASDAQ:VSTM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The company had revenue of $10.00 million during the quarter. On average, equities analysts forecast that Verastem will post -3.36 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.