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

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $14.57.

Several research firms have recently issued reports on VSTM. B. Riley cut their price objective 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 downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Guggenheim started coverage on Verastem in a research report on Monday, September 30th. They issued a “buy” rating and a $13.00 target price on the stock. Truist Financial dropped their target price on Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Verastem in a research report on Friday, October 18th.

Institutional Investors Weigh In On Verastem

Hedge funds have recently bought and sold shares of the stock. Stonepine Capital Management LLC purchased a new position in shares of Verastem during the 3rd quarter valued at approximately $3,918,000. Nantahala Capital Management LLC purchased a new position in shares of Verastem during the 2nd quarter valued at approximately $1,192,000. Walleye Capital LLC lifted its position in shares of Verastem by 493.7% during the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock valued at $646,000 after buying an additional 179,725 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Verastem during the 2nd quarter valued at approximately $203,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Verastem by 46.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,601 shares of the biopharmaceutical company’s stock valued at $310,000 after buying an additional 32,791 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Stock Up 0.7 %

NASDAQ:VSTM opened at $4.13 on Friday. Verastem has a 1-year low of $2.10 and a 1-year high of $14.22. The company has a 50-day moving average of $3.18 and a 200 day moving average of $4.18. The firm has a market cap of $183.83 million, a PE ratio of -1.29 and a beta of 0.14. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23.

Verastem (NASDAQ:VSTM) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. As a group, research analysts anticipate that Verastem will post -3.28 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.