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

Shares of Verastem, Inc. (NASDAQ:VSTM) have been given an average rating of “Buy” by the nine brokerages that are currently covering the company, Marketbeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $13.00.

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Verastem in a research note on Friday, October 18th. StockNews.com lowered shares of Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Mizuho lifted their price target on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Guggenheim initiated coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Verastem in a research report on Thursday, December 19th.

Verastem Price Performance

Shares of VSTM opened at $7.00 on Friday. The stock has a market cap of $311.55 million, a P/E ratio of -2.19 and a beta of 0.24. Verastem has a 1 year low of $2.10 and a 1 year high of $14.22. The stock’s 50-day moving average price is $4.42 and its two-hundred day moving average price is $3.38. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

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

Institutional Trading of Verastem

A number of hedge funds have recently made changes to their positions in VSTM. FMR LLC acquired a new position in shares of Verastem in the third quarter valued at approximately $41,000. SG Americas Securities LLC acquired a new position in shares of Verastem in the third quarter valued at about $43,000. JPMorgan Chase & Co. grew its stake in shares of Verastem by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 6,016 shares in the last quarter. Apollon Wealth Management LLC increased its position in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Verastem in the 2nd quarter worth about $82,000. 88.37% of the stock is owned by institutional investors and hedge funds.

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.