Verastem, Inc. (NASDAQ:VSTM) Receives $14.57 Average PT from Analysts

Shares of Verastem, Inc. (NASDAQ:VSTM - Get Free Report) have earned a consensus recommendation of "Buy" from the eight research firms that are covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.57.

VSTM has been the subject of several analyst reports. StockNews.com downgraded shares of Verastem from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Verastem in a research report on Friday, October 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 target price on shares of Verastem in a report on Friday, October 18th. B. Riley dropped their target price 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. Finally, Truist Financial dropped their price objective on shares of Verastem from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, August 13th.

Institutional Trading of Verastem

Several institutional investors and hedge funds have recently bought and sold shares of VSTM. Vanguard Group Inc. increased its holdings in shares of Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company's stock valued at $13,699,000 after acquiring an additional 10,678 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Verastem during the second quarter valued at $203,000. Rhumbline Advisers raised its holdings in shares of Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company's stock worth $86,000 after purchasing an additional 28,119 shares during the period. Acadian Asset Management LLC bought a new position in shares of Verastem in the 2nd quarter worth about $82,000. Finally, Nantahala Capital Management LLC acquired a new position in shares of Verastem in the 2nd quarter valued at about $1,192,000. Institutional investors and hedge funds own 88.37% of the company's stock.

Verastem Price Performance

VSTM stock traded down $0.14 on Friday, reaching $3.99. 1,098,650 shares of the company's stock were exchanged, compared to its average volume of 593,490. The stock has a fifty day moving average of $3.21 and a 200-day moving average of $4.14. The firm has a market cap of $177.59 million, a PE ratio of -1.25 and a beta of 0.14. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a twelve month low of $2.10 and a twelve month high of $14.22.

Verastem (NASDAQ:VSTM - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.11. As a group, equities analysts predict that Verastem will post -3.24 EPS for the current fiscal year.

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.