Verastem, Inc. (NASDAQ:VSTM - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.55 and traded as high as $7.22. Verastem shares last traded at $6.71, with a volume of 615,857 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. B. Riley boosted their price target on shares of Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a report on Friday, January 31st. Royal Bank of Canada lowered their target price on Verastem from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Friday. Guggenheim reiterated a "buy" rating on shares of Verastem in a report on Friday, January 24th. Mizuho upped their price objective on Verastem from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Verastem in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.38.
Read Our Latest Stock Report on Verastem
Verastem Stock Down 2.5 %
The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. The company has a market capitalization of $295.97 million, a price-to-earnings ratio of -2.08 and a beta of 0.60. The business's 50 day moving average is $6.01 and its 200 day moving average is $4.61.
Verastem (NASDAQ:VSTM - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.57). Sell-side analysts anticipate that Verastem, Inc. will post -3.02 earnings per share for the current year.
Insider Transactions at Verastem
In other Verastem news, CEO Dan Paterson sold 8,568 shares of the business's stock in a transaction that occurred on 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 directly owns 347,581 shares of the company's stock, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 9,988 shares of company stock worth $53,608 over the last 90 days. 2.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Verastem
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in Verastem by 51.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 1,698 shares in the last quarter. FMR LLC purchased a new stake in shares of Verastem during the 3rd quarter worth about $41,000. JPMorgan Chase & Co. grew its position in shares of Verastem by 55.4% during the 3rd 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 period. ProShare Advisors LLC purchased a new position in shares of Verastem in the 4th quarter valued at about $56,000. Finally, Voya Investment Management LLC acquired a new position in Verastem in the 4th quarter worth about $59,000. Institutional investors and hedge funds own 88.37% of the company's stock.
Verastem Company Profile
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Get Free Report)
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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