Verastem (NASDAQ:VSTM) Share Price Passes Above 200-Day Moving Average of $9.47

Verastem, Inc. (NASDAQ:VSTM) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.47 and traded as high as $11.82. Verastem shares last traded at $11.81, with a volume of 75,876 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $17.50 target price on shares of Verastem in a research note on Tuesday, March 19th. StockNews.com lowered shares of Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $32.00 target price on shares of Verastem in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.79.

Verastem Stock Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.45 and a current ratio of 5.45. The company has a market capitalization of $298.79 million, a PE ratio of -2.88 and a beta of 0.48. The company has a 50 day moving average price of $12.03 and a 200 day moving average price of $9.47.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, March 14th. The biopharmaceutical company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.20). Equities analysts forecast that Verastem, Inc. will post -4.31 EPS for the current year.

Institutional Trading of Verastem

Institutional investors and hedge funds have recently bought and sold shares of the company. Eaton Vance Management bought a new position in Verastem during the first quarter worth $28,000. Mirabella Financial Services LLP acquired a new stake in shares of Verastem during the first quarter worth $36,000. XTX Topco Ltd bought a new position in shares of Verastem in the 1st quarter worth about $37,000. Virtu Financial LLC boosted its holdings in shares of Verastem by 212.0% in the 2nd quarter. Virtu Financial LLC now owns 41,048 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 27,890 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Verastem during the 4th quarter valued at about $55,000. Institutional investors and hedge funds 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.