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

Verastem, Inc. (NASDAQ:VSTM) has received a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.57.

A number of analysts recently issued reports on the company. StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Truist Financial cut their price objective on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. HC Wainwright dropped their price target on shares of Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada lowered their price objective on shares of Verastem from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, B. Riley reduced their price target on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, July 24th.

Verastem Stock Performance

VSTM opened at $2.99 on Thursday. 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 company has a market capitalization of $75.72 million, a price-to-earnings ratio of -0.68 and a beta of 0.16. The business’s 50-day moving average price is $2.59 and its two-hundred day moving average price is $5.87. Verastem has a 1 year low of $2.10 and a 1 year high of $14.22.

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

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently modified their holdings of VSTM. Acadian Asset Management LLC bought a new stake in Verastem in the 2nd quarter valued at about $82,000. Rhumbline Advisers raised its position 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 valued at $86,000 after buying an additional 28,119 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in shares of Verastem in the first quarter valued at approximately $131,000. Bank of New York Mellon Corp acquired a new stake in Verastem during the second quarter worth approximately $203,000. Finally, Nantahala Capital Management LLC bought a new position in Verastem during the 2nd quarter worth $1,192,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.