Verastem, Inc. (NASDAQ:VSTM) Receives $25.69 Average Price Target from Analysts

Verastem, Inc. (NASDAQ:VSTM) has been given a consensus rating of “Buy” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.69.

Several brokerages have weighed in on VSTM. Royal Bank of Canada lowered their target price on shares of Verastem from $32.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. HC Wainwright restated a “buy” rating and set a $17.50 target price on shares of Verastem in a research report on Tuesday, May 28th. StockNews.com lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Finally, Alliance Global Partners lowered their target price on shares of Verastem from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th.

Hedge Funds Weigh In On Verastem

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Verastem by 114,375.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 9,150 shares during the period. Vanguard Group Inc. increased its position in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after acquiring an additional 10,678 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Verastem in the first quarter worth $131,000. Citigroup Inc. acquired a new stake in shares of Verastem in the third quarter worth $245,000. Finally, Sectoral Asset Management Inc. acquired a new stake in shares of Verastem in the third quarter worth $1,653,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Trading Down 2.8 %

Shares of Verastem stock opened at $3.16 on Tuesday. Verastem has a 52-week low of $3.11 and a 52-week high of $14.22. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.60. The company’s 50-day simple moving average is $7.91 and its 200-day simple moving average is $9.79. The firm has a market cap of $80.04 million, a price-to-earnings ratio of -0.72 and a beta of 0.27.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.10). As a group, equities research analysts anticipate that Verastem will post -4.14 earnings per share for the current 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.