Verastem, Inc. (NASDAQ:VSTM) Receives Average Rating of “Buy” from Analysts

Verastem, Inc. (NASDAQ:VSTMGet Free Report) has been given an average recommendation of “Buy” by the nine analysts that are covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $13.38.

Several analysts recently weighed in on VSTM shares. BTIG Research increased their target price on Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. StockNews.com lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Verastem from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th.

Get Our Latest Research Report on Verastem

Verastem Stock Performance

VSTM stock opened at $5.82 on Wednesday. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a market cap of $259.05 million, a P/E ratio of -1.82 and a beta of 0.24. The firm has a 50 day simple moving average of $5.03 and a 200 day simple moving average of $3.70.

Verastem (NASDAQ:VSTMGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.11. Research analysts anticipate that Verastem will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 8,568 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 347,581 shares in the company, valued at $1,821,324.44. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 10,321 shares of company stock valued at $52,217. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Verastem

Several large investors have recently added to or reduced their stakes in VSTM. Walleye Capital LLC boosted its holdings in shares of Verastem by 493.7% in the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock worth $646,000 after acquiring an additional 179,725 shares in the last quarter. Geode Capital Management LLC boosted its stake in Verastem by 67.6% in the third quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock worth $2,663,000 after purchasing an additional 359,060 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Verastem during the second quarter worth $1,192,000. XTX Topco Ltd acquired a new stake in shares of Verastem in the third quarter valued at $112,000. Finally, Barclays PLC raised its holdings in shares of Verastem by 546.7% in the third quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company’s stock valued at $167,000 after buying an additional 47,094 shares during the last quarter. 88.37% of the stock is owned by institutional investors.

About Verastem

(Get Free Report

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.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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