Analysts Set Verastem, Inc. (NASDAQ:VSTM) Target Price at $13.29

Verastem, Inc. (NASDAQ:VSTM) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $13.2857.

A number of equities analysts recently issued reports on VSTM shares. Zacks Research upgraded shares of Verastem to a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. HC Wainwright increased their target price on shares of Verastem from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada increased their target price on shares of Verastem from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, August 8th.

Insider Transactions at Verastem

In related news, CEO Dan Paterson sold 17,808 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $5.13, for a total value of $91,355.04. Following the completion of the transaction, the chief executive officer owned 443,839 shares in the company, valued at $2,276,894.07. This represents a 3.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 24,488 shares of company stock valued at $127,149. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Verastem

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC bought a new position in shares of Verastem during the 4th quarter valued at about $56,000. BNP Paribas Financial Markets bought a new position in shares of Verastem during the 4th quarter valued at about $387,000. Stifel Financial Corp boosted its position in shares of Verastem by 30.5% during the 4th quarter. Stifel Financial Corp now owns 39,593 shares of the biopharmaceutical company’s stock valued at $205,000 after purchasing an additional 9,254 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Verastem by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 20,571 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 6,012 shares in the last quarter. Finally, Voya Investment Management LLC bought a new position in shares of Verastem during the 4th quarter valued at about $59,000. Institutional investors own 88.37% of the company’s stock.

Verastem Stock Up 3.7%

VSTM stock opened at $8.63 on Friday. The company has a quick ratio of 3.44, a current ratio of 3.46 and a debt-to-equity ratio of 2.06. Verastem has a fifty-two week low of $2.34 and a fifty-two week high of $9.10. The firm’s 50-day simple moving average is $5.72 and its 200 day simple moving average is $6.18. The stock has a market cap of $531.09 million, a PE ratio of -2.63 and a beta of 0.83.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.25. The firm had revenue of $2.14 million during the quarter, compared to analyst estimates of $6.01 million. As a group, sell-side analysts predict that Verastem will post -3.02 EPS 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.