Analysts Set Verastem, Inc. (NASDAQ:VSTM) Price Target at $14.83

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have covered the stock in the last year is $14.83.

A number of equities analysts have recently weighed in on VSTM shares. HC Wainwright lowered their price target on Verastem from $17.50 to $7.00 and set a “buy” rating for the company in a report on Monday, August 12th. StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Alliance Global Partners reduced 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. Truist Financial reduced their target price 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, B. Riley dropped their price objective on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th.

Verastem Trading Down 1.6 %

VSTM stock opened at $2.40 on Friday. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88. The firm has a market cap of $96.58 million, a P/E ratio of -0.55 and a beta of 0.16. The company’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $7.07.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results 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 company had revenue of $10.00 million during the quarter. As a group, equities analysts forecast that Verastem will post -3.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Verastem

A number of hedge funds and other institutional investors have recently made changes to their positions in VSTM. Vanguard Group Inc. raised its position in 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 acquiring an additional 10,678 shares in the last quarter. Cannon Global Investment Management LLC bought a new stake in Verastem in the first quarter worth approximately $131,000. Nantahala Capital Management LLC acquired a new position in shares of Verastem during the 2nd quarter worth $1,192,000. Rhumbline Advisers raised its holdings in shares of Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 28,119 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Verastem in the 2nd quarter valued at $203,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.