Verastem (NASDAQ:VSTM) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Verastem, Inc. (NASDAQ:VSTM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.19 and traded as high as $5.74. Verastem shares last traded at $5.54, with a volume of 550,383 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VSTM shares. Royal Bank of Canada boosted their price objective on Verastem from $13.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Verastem from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Mizuho upped their target price on shares of Verastem from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. BTIG Research raised their price objective on Verastem from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, December 31st. Finally, HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.63.

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Verastem Trading Up 0.5 %

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 $311.24 million, a P/E ratio of -2.19 and a beta of 0.28. The company's fifty day simple moving average is $5.71 and its 200-day simple moving average is $4.26.

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 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 of the company's stock, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 10,367 shares of company stock valued at $53,990 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Woodline Partners LP acquired a new position in Verastem in the 4th quarter worth approximately $3,742,000. Squarepoint Ops LLC acquired a new stake in Verastem during the 4th quarter worth about $92,000. Two Sigma Advisers LP grew its position in Verastem by 41.2% during the 4th quarter. Two Sigma Advisers LP now owns 60,017 shares of the biopharmaceutical company's stock worth $310,000 after purchasing an additional 17,500 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Verastem in the fourth quarter worth about $61,000. Finally, ProShare Advisors LLC purchased a new stake in Verastem in the 4th quarter worth approximately $56,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.