Verastem, Inc. (NASDAQ:VSTM) Receives $13.63 Consensus Target Price from Analysts

Verastem, Inc. (NASDAQ:VSTM) has received a consensus rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.38.

A number of equities analysts have commented on VSTM shares. Mizuho upped their price objective on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Guggenheim reissued a “buy” rating on shares of Verastem in a report on Friday, January 24th. Royal Bank of Canada reduced their price objective on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Thursday, December 19th. Finally, B. Riley raised their price target on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, January 31st.

Verastem Stock Performance

Shares of Verastem stock opened at $6.65 on Thursday. The business’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $4.63. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. The firm has a market cap of $295.97 million, a PE ratio of -2.08 and a beta of 0.60. Verastem has a 52 week low of $2.10 and a 52 week high of $13.52.

Verastem (NASDAQ:VSTM) last released its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.57). Equities analysts forecast that Verastem will post -3.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Dan Paterson sold 8,568 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $5.24, for a total value of $44,896.32. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 9,988 shares of company stock valued at $53,608. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in Verastem by 51.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 1,698 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Verastem during the 4th quarter worth approximately $56,000. Voya Investment Management LLC acquired a new position in shares of Verastem during the 4th quarter worth approximately $59,000. Sherbrooke Park Advisers LLC purchased a new stake in Verastem in the 4th quarter valued at approximately $61,000. Finally, FMR LLC acquired a new stake in Verastem during the 3rd quarter valued at $41,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.