Verastem, Inc. (NASDAQ:VSTM) Receives $14.57 Average Target Price from Brokerages

Verastem, Inc. (NASDAQ:VSTM) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $14.57.

A number of research analysts have recently weighed in on VSTM shares. Guggenheim began coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. B. Riley decreased their price objective on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Verastem in a research report on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Verastem in a research note on Friday, October 18th.

Verastem Stock Down 3.4 %

Shares of VSTM opened at $3.99 on Friday. The business’s 50 day moving average is $3.21 and its 200 day moving average is $4.06. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The company has a market capitalization of $177.59 million, a PE ratio of -1.25 and a beta of 0.14.

Verastem (NASDAQ:VSTM) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.11. Research analysts expect that Verastem will post -3.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Large investors have recently made changes to their positions in the company. FMR LLC bought a new stake in Verastem in the third quarter worth about $41,000. SG Americas Securities LLC bought a new stake in shares of Verastem during the 3rd quarter worth approximately $43,000. Apollon Wealth Management LLC boosted its holdings in Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 10,457 shares during the period. Acadian Asset Management LLC bought a new position in Verastem in the 2nd quarter valued at $82,000. Finally, Rhumbline Advisers boosted its stake 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 valued at $86,000 after purchasing an additional 28,119 shares during the period. 88.37% of the stock is 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.