Verastem, Inc. (NASDAQ:VSTM) Receives $14.57 Consensus PT from Brokerages

Shares of Verastem, Inc. (NASDAQ:VSTM) have received a consensus recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.57.

A number of equities research analysts have recently commented on VSTM shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note 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 research note on Friday, October 18th. Truist Financial reduced their target price 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. StockNews.com raised shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Verastem in a report on Friday, October 18th.

Hedge Funds Weigh In On Verastem

Large investors have recently made changes to their positions in the stock. Cannon Global Investment Management LLC purchased a new stake in Verastem during the 1st quarter worth about $131,000. Vanguard Group Inc. lifted its holdings in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after buying an additional 10,678 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Verastem in the second quarter valued at approximately $203,000. Rhumbline Advisers grew its stake in Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 28,119 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Verastem during the 2nd quarter worth approximately $82,000. 88.37% of the stock is owned by institutional investors.

Verastem Price Performance

Verastem stock opened at $3.28 on Monday. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22. The company’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $4.89. The stock has a market cap of $83.07 million, a P/E ratio of -0.75 and a beta of 0.17. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The business had revenue of $10.00 million for the quarter. On average, equities analysts predict that Verastem will post -3.36 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.