Verastem, Inc. (NASDAQ:VSTM - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.91 and traded as high as $5.37. Verastem shares last traded at $4.64, with a volume of 847,360 shares traded.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on VSTM. BTIG Research lifted their price objective on Verastem from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, December 31st. Guggenheim boosted their price target on shares of Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, March 24th. B. Riley increased their price objective on shares of Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, January 31st. HC Wainwright lifted their price objective on shares of Verastem from $7.00 to $10.00 and gave the company a "buy" rating in a report on Monday, March 24th. Finally, StockNews.com upgraded Verastem from a "sell" rating to a "hold" rating in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Verastem presently has an average rating of "Moderate Buy" and a consensus price target of $13.89.
Get Our Latest Stock Report on VSTM
Verastem Stock Performance
The firm has a 50 day moving average price of $6.01 and a 200-day moving average price of $4.98. The stock has a market capitalization of $238.90 million, a PE ratio of -1.45 and a beta of 0.57. 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 (NASDAQ:VSTM - Get Free Report) last posted its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.57). Research analysts expect that Verastem, Inc. will post -3.02 EPS for the current fiscal year.
Insider Transactions at Verastem
In related news, CEO Dan Paterson sold 8,568 shares of the company's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $5.24, for a total value of $44,896.32. Following the completion of the transaction, the chief executive officer now owns 347,581 shares of the company's stock, valued at approximately $1,821,324.44. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 9,954 shares of company stock valued at $53,457 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.
Institutional Trading of Verastem
A number of institutional investors and hedge funds have recently made changes to their positions in VSTM. Balyasny Asset Management L.P. acquired a new position in Verastem during the fourth quarter worth $20,400,000. AIGH Capital Management LLC acquired a new position in shares of Verastem during the 4th quarter worth about $13,778,000. Rosalind Advisors Inc. purchased a new position in Verastem in the 4th quarter valued at about $4,653,000. Marshall Wace LLP acquired a new stake in Verastem in the 4th quarter worth about $4,103,000. Finally, Woodline Partners LP acquired a new stake in Verastem in the 4th quarter worth about $3,742,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.
About Verastem
(
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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.
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