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

Shares of Verastem, Inc. (NASDAQ:VSTM) have been given a consensus recommendation of “Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.57.

A number of analysts recently weighed in on VSTM shares. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Verastem in a research note 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 on the stock in a report on Wednesday, July 24th. Truist Financial lowered their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Guggenheim started coverage on Verastem in a research note on Monday, September 30th. They set a “buy” rating and a $13.00 price objective on the stock.

Verastem Price Performance

Shares of NASDAQ:VSTM opened at $3.18 on Monday. The company’s fifty day moving average price is $2.77 and its 200-day moving average price is $4.72. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28. The firm has a market capitalization of $80.54 million, a price-to-earnings ratio of -0.72 and a beta of 0.17. Verastem has a one year low of $2.10 and a one year high of $14.22.

Verastem (NASDAQ:VSTM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The firm had revenue of $10.00 million during the quarter. On average, equities research analysts anticipate that Verastem will post -3.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Hedge funds and other institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC purchased a new position in Verastem during the 2nd quarter valued at about $1,192,000. Vanguard Group Inc. increased its stake in shares of Verastem by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after buying an additional 10,678 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Verastem during the second quarter valued at approximately $203,000. Acadian Asset Management LLC purchased a new stake in Verastem in the second quarter worth $82,000. Finally, Rhumbline Advisers boosted its holdings in Verastem by 4,172.0% in 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 owned by 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.