Verastem, Inc. (NASDAQ:VSTM) Receives Consensus Recommendation of “Buy” from Brokerages

Verastem, Inc. (NASDAQ:VSTM) has received an average recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.50.

A number of brokerages have commented on VSTM. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Verastem in a report on Friday, October 18th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. Truist Financial dropped their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Guggenheim started coverage on shares of Verastem in a research note on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective for the company.

Verastem Trading Down 2.8 %

NASDAQ:VSTM opened at $5.49 on Tuesday. The stock’s 50-day moving average is $3.82 and its two-hundred day moving average is $3.25. 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 stock has a market cap of $244.36 million, a PE ratio of -1.72 and a beta of 0.22. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22.

Verastem (NASDAQ:VSTM) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. As a group, equities research analysts forecast that Verastem will post -3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VSTM. Apollon Wealth Management LLC increased its stake in shares of Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 10,457 shares during the period. Vanguard Group Inc. grew its holdings in Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after buying an additional 10,678 shares during the last quarter. Stifel Financial Corp increased its position in Verastem by 62.3% in the 3rd quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company’s stock worth $91,000 after buying an additional 11,642 shares during the period. FMR LLC acquired a new position in shares of Verastem during the third quarter worth approximately $41,000. Finally, SG Americas Securities LLC bought a new stake in shares of Verastem in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

About Verastem

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.