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

Verastem, Inc. (NASDAQ:VSTM) has been given an average rating of “Buy” by the nine ratings firms that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.63.

A number of research analysts have recently commented on VSTM shares. Mizuho increased their target price on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. BTIG Research increased their target price on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Royal Bank of Canada increased their target price on shares of Verastem from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, B. Riley increased their target price on shares of Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, January 31st.

Verastem Stock Up 2.0 %

VSTM stock opened at $5.68 on Friday. The stock has a market capitalization of $252.80 million, a P/E ratio of -1.78 and a beta of 0.28. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a 12 month low of $2.10 and a 12 month high of $13.82. The firm has a 50-day moving average price of $5.43 and a 200-day moving average price of $4.06.

Insider Activity at Verastem

In other Verastem news, CEO Dan Paterson sold 8,568 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 10,367 shares of company stock worth $53,990 in the last quarter. 2.20% of the stock is owned by insiders.

Institutional Trading of Verastem

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 1,698 shares during the period. ProShare Advisors LLC acquired a new stake in Verastem during the 4th quarter valued at approximately $56,000. Voya Investment Management LLC acquired a new stake in Verastem during the 4th quarter valued at approximately $59,000. Sherbrooke Park Advisers LLC acquired a new stake in Verastem during the 4th quarter valued at approximately $61,000. Finally, FMR LLC acquired a new stake in Verastem during the 3rd quarter valued at approximately $41,000. 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.