Verastem, Inc. (NASDAQ:VSTM) Receives $13.00 Average PT from Brokerages

Verastem, Inc. (NASDAQ:VSTM) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is $13.00.

A number of equities research analysts have recently issued reports on the stock. BTIG Research upped their target price on shares of Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Guggenheim began coverage on Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note on Friday, October 18th.

Institutional Investors Weigh In On Verastem

Several institutional investors have recently bought and sold shares of the stock. FMR LLC acquired a new position in shares of Verastem during the 3rd quarter valued at $41,000. SG Americas Securities LLC acquired a new position in Verastem during the third quarter worth about $43,000. JPMorgan Chase & Co. grew its holdings in Verastem by 55.4% during the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 6,016 shares during the period. Apollon Wealth Management LLC raised its position in 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 acquiring an additional 10,457 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Verastem in the 2nd quarter valued at about $82,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Trading Down 4.0 %

Shares of VSTM opened at $6.72 on Friday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. Verastem has a one year low of $2.10 and a one year high of $14.22. The stock has a 50-day moving average price of $4.49 and a 200 day moving average price of $3.40. The company has a market capitalization of $299.09 million, a P/E ratio of -2.11 and a beta of 0.24.

Verastem (NASDAQ:VSTM) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.11. Sell-side analysts forecast that Verastem will post -3.16 EPS for the current fiscal year.

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.