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

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have covered the stock in the last year is $14.57.

Several brokerages have recently issued reports on VSTM. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. Truist Financial decreased their price objective on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Verastem in a report on Friday, October 18th. B. Riley reduced their target price on shares of Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday.

Institutional Trading of Verastem

Several institutional investors and hedge funds have recently modified their holdings of VSTM. FMR LLC purchased a new position in Verastem during the third quarter valued at $41,000. SG Americas Securities LLC purchased a new position in Verastem during the third quarter valued at $43,000. Apollon Wealth Management LLC grew its stake in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 10,457 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Verastem during the second quarter valued at $82,000. Finally, Rhumbline Advisers grew its stake in Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 28,119 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors.

Verastem Trading Up 3.7 %

NASDAQ:VSTM opened at $3.96 on Friday. Verastem has a one year low of $2.10 and a one year high of $14.22. 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 company’s 50-day simple moving average is $3.26 and its 200 day simple moving average is $3.96. The firm has a market capitalization of $176.26 million, a P/E ratio of -1.24 and a beta of 0.14.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.11. As a group, analysts forecast that Verastem will post -3.24 EPS for the current fiscal year.

Verastem Company Profile

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.