Verastem, Inc. (NASDAQ:VSTM) Receives $28.79 Consensus Price Target from Analysts

Verastem, Inc. (NASDAQ:VSTM) has been assigned an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.79.

VSTM has been the topic of several recent analyst reports. StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. HC Wainwright restated a “buy” rating and issued a $17.50 price objective on shares of Verastem in a report on Tuesday, March 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 target price on shares of Verastem in a research note on Friday, March 15th.

Institutional Trading of Verastem

Several hedge funds have recently made changes to their positions in VSTM. Bank of New York Mellon Corp increased its stake in Verastem by 27.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 4,939 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Verastem by 116.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company’s stock worth $10,569,000 after acquiring an additional 700,000 shares during the period. Sectoral Asset Management Inc. acquired a new stake in shares of Verastem in the third quarter valued at $1,653,000. Citigroup Inc. purchased a new position in Verastem in the third quarter valued at $245,000. Finally, International Assets Investment Management LLC grew its stake in Verastem by 114,375.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 9,150 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Price Performance

Shares of NASDAQ:VSTM opened at $9.98 on Monday. Verastem has a 52-week low of $4.68 and a 52-week high of $15.18. The stock has a market cap of $252.59 million, a P/E ratio of -2.43 and a beta of 0.48. The business has a fifty day moving average of $11.38 and a two-hundred day moving average of $9.67. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.70.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.20). On average, research analysts expect that Verastem will post -4.31 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.