Verastem, Inc. (NASDAQ:VSTM) Given Average Recommendation of “Buy” by Analysts

Verastem, Inc. (NASDAQ:VSTM) has been given a consensus rating of “Buy” by the eight brokerages that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.57.

A number of research analysts recently commented on the company. Guggenheim assumed coverage on Verastem in a research note on Monday, September 30th. They issued a “buy” rating and a $13.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Verastem in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Verastem in a report on Friday. B. Riley decreased their price objective on shares of Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th.

Verastem Stock Up 11.3 %

NASDAQ VSTM opened at $2.96 on Monday. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88. The company has a market cap of $119.11 million, a price-to-earnings ratio of -0.89 and a beta of 0.17. The company has a 50 day moving average of $2.67 and a 200-day moving average of $5.06. Verastem has a 1-year low of $2.10 and a 1-year high of $14.22.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The company had revenue of $10.00 million for the quarter. On average, equities research analysts expect that Verastem will post -3.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Verastem in the third quarter valued at approximately $43,000. Acadian Asset Management LLC bought a new position in shares of Verastem in the 2nd quarter valued at $82,000. Rhumbline Advisers boosted its holdings in shares of Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 28,119 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Verastem during the first quarter valued at about $131,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Verastem during the second quarter worth about $203,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.