Verastem, Inc. (NASDAQ:VSTM) Receives $13.00 Average PT from Brokerages

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.00.

VSTM has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Verastem in a research report on Thursday, December 19th. BTIG Research increased their target price on Verastem from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Verastem in a research note on Friday, October 18th. Cantor Fitzgerald reissued an "overweight" rating on shares of Verastem in a report on Friday, October 18th. Finally, Guggenheim began coverage on shares of Verastem in a research note on Monday, September 30th. They set a "buy" rating and a $13.00 price target for the company.

Hedge Funds Weigh In On Verastem

A number of hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new stake in shares of Verastem during the third quarter valued at approximately $41,000. SG Americas Securities LLC bought a new stake in Verastem in the third quarter worth about $43,000. JPMorgan Chase & Co. boosted its stake in 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 during the last quarter. Apollon Wealth Management LLC grew its position in shares of Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 10,457 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in Verastem in the second quarter valued at approximately $82,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Verastem Stock Performance

VSTM traded up $0.51 on Friday, reaching $7.00. The company had a trading volume of 3,659,797 shares, compared to its average volume of 5,968,199. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The stock has a market cap of $311.55 million, a P/E ratio of -2.19 and a beta of 0.24. The company's fifty day moving average is $4.42 and its 200 day moving average is $3.38. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.11. As a group, analysts predict that Verastem will post -3.16 earnings per share 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.