Verastem (NASDAQ:VSTM) Share Price Crosses Above 200-Day Moving Average of $9.60

Shares of Verastem, Inc. (NASDAQ:VSTM) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.60 and traded as high as $10.00. Verastem shares last traded at $9.74, with a volume of 95,499 shares trading hands.

Wall Street Analysts Forecast Growth

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

Verastem Stock Down 1.0 %

The company’s fifty day simple moving average is $11.70 and its 200-day simple moving average is $9.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.45 and a quick ratio of 5.45. The firm has a market capitalization of $246.52 million, a PE ratio of -2.38 and a beta of 0.48.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.20). On average, analysts forecast that Verastem, Inc. will post -4.31 EPS for the current year.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Verastem by 27.7% during the third quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company’s stock worth $185,000 after buying an additional 4,939 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Verastem by 114,375.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 9,150 shares during the period. Cannon Global Investment Management LLC acquired a new stake in shares of Verastem during the first quarter worth $131,000. Citigroup Inc. acquired a new stake in shares of Verastem during the third quarter worth $245,000. Finally, Sectoral Asset Management Inc. acquired a new stake in shares of Verastem during the third quarter worth $1,653,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.