Verastem, Inc. (NASDAQ:VSTM) Receives $13.63 Average Target Price from Brokerages

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine brokerages that are currently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have covered the stock in the last year is $13.38.

VSTM has been the topic of a number of research analyst reports. Guggenheim reiterated a "buy" rating on shares of Verastem in a research report on Friday, January 24th. BTIG Research boosted their price objective on shares of Verastem from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, December 31st. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Verastem in a report on Thursday, December 19th. Royal Bank of Canada cut their target price on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Mizuho increased their price target on shares of Verastem from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th.

Insider Activity

In related news, CEO Dan Paterson sold 8,568 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the sale, the chief executive officer now owns 347,581 shares in the company, valued at approximately $1,821,324.44. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 9,988 shares of company stock valued at $53,608 over the last 90 days. Insiders own 2.20% of the company's stock.

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Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Walleye Capital LLC increased its stake in Verastem by 493.7% in the third quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company's stock valued at $646,000 after purchasing an additional 179,725 shares during the last quarter. Geode Capital Management LLC grew its holdings in Verastem by 67.6% in the 3rd quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company's stock valued at $2,663,000 after buying an additional 359,060 shares during the period. Rhumbline Advisers increased its stake in shares of Verastem by 38.0% during the 4th quarter. Rhumbline Advisers now owns 37,629 shares of the biopharmaceutical company's stock valued at $195,000 after acquiring an additional 10,352 shares during the last quarter. Barclays PLC increased its stake in shares of Verastem by 546.7% during the 3rd quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company's stock valued at $167,000 after acquiring an additional 47,094 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Verastem during the 3rd quarter worth about $112,000. Hedge funds and other institutional investors own 88.37% of the company's stock.

Verastem Price Performance

Shares of VSTM traded down $0.17 during trading hours on Thursday, reaching $6.65. The company had a trading volume of 911,852 shares, compared to its average volume of 914,490. 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 has a 12-month low of $2.10 and a 12-month high of $13.52. The firm has a 50 day simple moving average of $6.01 and a 200-day simple moving average of $4.63. The company has a market capitalization of $295.97 million, a price-to-earnings ratio of -2.08 and a beta of 0.60.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.57). Research analysts expect that Verastem will post -3.02 earnings per share for the current 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.