Verastem, Inc. (NASDAQ:VSTM) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Verastem, Inc. (NASDAQ:VSTMGet Free Report) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $14.57.

VSTM has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research note on Friday. Truist Financial cut their price target 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. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Verastem in a research note on Friday. StockNews.com raised shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, B. Riley reduced their price target on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, July 24th.

Read Our Latest Research Report on VSTM

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Verastem during the third quarter worth approximately $43,000. Nantahala Capital Management LLC acquired a new stake in Verastem during the 2nd quarter worth approximately $1,192,000. Acadian Asset Management LLC bought a new stake in Verastem in the 2nd quarter valued at $82,000. Rhumbline Advisers grew its holdings in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 28,119 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Verastem during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Trading Up 11.3 %

Shares of NASDAQ:VSTM opened at $2.96 on Monday. The company’s 50-day moving average price is $2.67 and its two-hundred day moving average price is $5.06. Verastem has a one year low of $2.10 and a one year high of $14.22. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28. The stock has a market capitalization of $119.11 million, a PE ratio of -0.89 and a beta of 0.17.

Verastem (NASDAQ:VSTMGet Free Report) last released its 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. On average, equities analysts forecast that Verastem will post -3.36 EPS for the current fiscal year.

Verastem Company Profile

(Get Free Report

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.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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