Verastem, Inc. (NASDAQ:VSTM) Receives $14.83 Consensus PT from Analysts

Shares of Verastem, Inc. (NASDAQ:VSTM) have received an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $14.83.

A number of brokerages recently commented on VSTM. Alliance Global Partners decreased their price objective on Verastem from $34.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. HC Wainwright reduced their price objective on shares of Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. B. Riley lowered their target price on shares of Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Truist Financial reduced their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th.

Verastem Stock Performance

Verastem stock opened at $2.40 on Friday. The company has a market cap of $60.78 million, a PE ratio of -0.55 and a beta of 0.16. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88. Verastem has a 1 year low of $2.10 and a 1 year high of $14.22. The company’s 50-day moving average is $2.70 and its two-hundred day moving average is $6.96.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.75. The business had revenue of $10.00 million during the quarter. Equities analysts anticipate that Verastem will post -3.54 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in Verastem in the 2nd quarter worth $82,000. Rhumbline Advisers raised its position in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 28,119 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in Verastem in the 1st quarter valued at approximately $131,000. Bank of New York Mellon Corp bought a new stake in Verastem in the 2nd quarter valued at approximately $203,000. Finally, Nantahala Capital Management LLC acquired a new position in Verastem during the 2nd quarter worth approximately $1,192,000. Institutional investors own 88.37% of the company’s stock.

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.