Analysts Set Verastem, Inc. (NASDAQ:VSTM) PT at $14.57

Shares of Verastem, Inc. (NASDAQ:VSTM - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $14.57.

Several equities research analysts have recently commented on the stock. HC Wainwright reissued a "buy" rating and set a $7.00 target price on shares of Verastem in a research report on Friday. B. Riley reduced their price objective on shares of Verastem from $21.00 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Verastem in a research report on Friday. Guggenheim started coverage on shares of Verastem in a research report on Monday, September 30th. They issued a "buy" rating and a $13.00 price objective for the company. Finally, StockNews.com raised shares of Verastem from a "sell" rating to a "hold" rating in a research report on Monday, August 12th.

Verastem Stock Up 20.6 %

Shares of NASDAQ:VSTM traded up $0.61 during midday trading on Monday, hitting $3.57. 3,217,051 shares of the company's stock were exchanged, compared to its average volume of 553,461. 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 50 day moving average price of $2.67 and a 200-day moving average price of $5.01. The company has a market cap of $143.66 million, a PE ratio of -1.04 and a beta of 0.17. Verastem has a 12 month low of $2.10 and a 12 month high of $14.22.

Verastem (NASDAQ:VSTM - Get Free Report) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.75. The business had revenue of $10.00 million for the quarter. On average, sell-side analysts anticipate that Verastem will post -3.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Verastem in the third quarter valued at about $43,000. Nantahala Capital Management LLC purchased a new stake in shares of Verastem during the 2nd quarter valued at approximately $1,192,000. Acadian Asset Management LLC purchased a new stake in shares of Verastem during the 2nd quarter valued at approximately $82,000. Rhumbline Advisers lifted its stake in shares of Verastem by 4,172.0% during 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 purchased a new stake in shares of Verastem during the 2nd quarter valued at approximately $203,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.