Analysts Set Verastem, Inc. (NASDAQ:VSTM) PT at $12.50

Verastem, Inc. (NASDAQ:VSTM) has been given a consensus recommendation of “Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $12.50.

A number of research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a report on Friday, October 18th. Guggenheim began coverage on shares of Verastem in a research report on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Friday, October 18th. StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Verastem in a research note on Friday, October 18th.

Verastem Price Performance

VSTM stock opened at $4.48 on Tuesday. The stock’s 50 day moving average price is $3.97 and its 200 day moving average price is $3.28. The firm has a market cap of $199.40 million, a P/E ratio of -1.40 and a beta of 0.22. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. 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 Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. On average, sell-side analysts expect that Verastem will post -3.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC acquired a new position in shares of Verastem in the 3rd quarter valued at $41,000. SG Americas Securities LLC purchased a new position in shares of Verastem in the 3rd quarter worth $43,000. Apollon Wealth Management LLC raised its position in shares of 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 buying an additional 10,457 shares during the period. Acadian Asset Management LLC purchased a new stake in Verastem during the second quarter valued at about $82,000. Finally, Rhumbline Advisers grew its position in Verastem by 4,172.0% during 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 during the period. Institutional investors and hedge funds own 88.37% of the company’s stock.

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.