Verastem, Inc. (NASDAQ:VSTM) Receives $13.00 Consensus Target Price from Analysts

Shares of Verastem, Inc. (NASDAQ:VSTM) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.38.

Several research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. Mizuho lifted their price objective on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on shares of Verastem from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Guggenheim initiated coverage on shares of Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company.

Verastem Stock Down 2.9 %

Shares of NASDAQ:VSTM opened at $5.73 on Friday. The firm has a fifty day moving average price of $4.64 and a two-hundred day moving average price of $3.46. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. Verastem has a one year low of $2.10 and a one year high of $14.22. The company has a market cap of $255.03 million, a price-to-earnings ratio of -1.80 and a beta of 0.24.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.11. Analysts anticipate that Verastem will post -3.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Verastem

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Verastem by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 6,016 shares during the period. Apollon Wealth Management LLC raised its position in Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 10,457 shares during the period. Stifel Financial Corp raised its position in Verastem by 62.3% in the 3rd quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 11,642 shares during the period. FMR LLC purchased a new position in Verastem in the 3rd quarter worth $41,000. Finally, SG Americas Securities LLC purchased a new position in Verastem in the 3rd quarter worth $43,000. Hedge funds and other 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.