Brokerages Set Verastem, Inc. (NASDAQ:VSTM) Price Target at $12.50

Verastem, Inc. (NASDAQ:VSTM) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.50.

Several research analysts recently commented on the stock. Guggenheim initiated coverage on shares of Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Verastem in a report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Verastem in a research report on Friday, October 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Finally, StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th.

Verastem Stock Up 4.5 %

Shares of NASDAQ VSTM opened at $4.68 on Tuesday. The stock has a market capitalization of $208.29 million, a PE ratio of -1.47 and a beta of 0.22. 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 fifty day moving average of $4.01 and a 200-day moving average of $3.28. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. On average, analysts anticipate that Verastem will post -3.16 EPS for the current year.

Institutional Trading of Verastem

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC acquired a new stake in Verastem during the 3rd quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new position in shares of Verastem during the 3rd quarter valued at approximately $43,000. Apollon Wealth Management LLC grew its position in shares of Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 10,457 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Verastem during the second quarter worth approximately $82,000. Finally, Rhumbline Advisers increased its stake in shares of Verastem by 4,172.0% in the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 28,119 shares during the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.