Verastem, Inc. (NASDAQ:VSTM) Receives $14.29 Average PT from Analysts

Verastem, Inc. (NASDAQ:VSTM) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.2857.

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Verastem from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Mizuho set a $15.00 price objective on Verastem in a research note on Wednesday, October 29th. BTIG Research reaffirmed a “buy” rating and set a $20.00 target price on shares of Verastem in a research note on Tuesday, September 9th. Cantor Fitzgerald upgraded Verastem to a “strong-buy” rating in a report on Thursday, October 30th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Verastem in a report on Tuesday, October 21st.

Insider Activity at Verastem

In other Verastem news, Director Michael Kauffman sold 8,550 shares of Verastem stock in a transaction on Friday, November 21st. The shares were sold at an average price of $10.00, for a total value of $85,500.00. Following the completion of the sale, the director directly owned 8,666 shares of the company’s stock, valued at approximately $86,660. The trade was a 49.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul A. Bunn sold 8,333 shares of the company’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $9.06, for a total transaction of $75,496.98. Following the transaction, the director owned 8,333 shares in the company, valued at $75,496.98. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 45,700 shares of company stock worth $452,579 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Verastem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 2,960 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Verastem in the second quarter valued at approximately $49,000. Nebula Research & Development LLC bought a new stake in shares of Verastem during the second quarter valued at approximately $53,000. The Manufacturers Life Insurance Company raised its position in shares of Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,440 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Verastem by 110.9% during the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares during the period. 88.37% of the stock is owned by institutional investors.

Verastem Stock Performance

Shares of VSTM stock opened at $7.93 on Friday. The stock has a market capitalization of $529.57 million, a PE ratio of -1.97 and a beta of 0.41. The business’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $7.85. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. Verastem has a one year low of $3.45 and a one year high of $11.24.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.84). The firm had revenue of $11.24 million for the quarter, compared to analysts’ expectations of $5.76 million. As a group, research analysts forecast that Verastem will post -3.02 earnings per share for the current year.

Verastem Company Profile

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.