Verastem (NASDAQ:VSTM) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Verastem, Inc. (NASDAQ:VSTM) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.05 and traded as high as $5.87. Verastem shares last traded at $5.68, with a volume of 505,293 shares changing hands.

Wall Street Analyst Weigh In

VSTM has been the topic of several recent research reports. B. Riley upped their price target on shares of Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, January 31st. BTIG Research upped their price target on shares of Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. Guggenheim reaffirmed a “buy” rating on shares of Verastem in a report on Friday, January 24th. Finally, Mizuho upped their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.63.

Verastem Trading Up 2.0 %

The business’s 50-day moving average price is $5.43 and its two-hundred day moving average price is $4.05. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market cap of $252.82 million, a price-to-earnings ratio of -1.78 and a beta of 0.28.

Insider Buying and Selling

In related news, CEO Dan Paterson sold 8,568 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the transaction, the chief executive officer now owns 347,581 shares of the company’s stock, valued at approximately $1,821,324.44. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 10,367 shares of company stock valued at $53,990. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Balyasny Asset Management L.P. acquired a new position in Verastem during the fourth quarter worth approximately $20,400,000. Nantahala Capital Management LLC increased its position in Verastem by 0.5% during the fourth quarter. Nantahala Capital Management LLC now owns 3,752,583 shares of the biopharmaceutical company’s stock worth $19,401,000 after purchasing an additional 19,250 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Verastem in the fourth quarter worth $13,778,000. BVF Inc. IL increased its position in shares of Verastem by 24.6% in the fourth quarter. BVF Inc. IL now owns 2,100,468 shares of the biopharmaceutical company’s stock worth $10,859,000 after acquiring an additional 415,249 shares in the last quarter. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Verastem in the third quarter worth $3,918,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

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.