Brokerages Set Verastem, Inc. (NASDAQ:VSTM) Price Target at $13.00

Verastem, Inc. (NASDAQ:VSTM) has been given an average rating of “Buy” by the nine brokerages that are covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $13.38.

A number of research firms have weighed in on VSTM. Guggenheim initiated coverage on shares of Verastem in a research note on Monday, September 30th. They set a “buy” rating and a $13.00 price target on the stock. BTIG Research increased their target price on Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. StockNews.com cut Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Mizuho upped their price target on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada lifted their price objective on Verastem from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday.

Institutional Trading of Verastem

Large investors have recently bought and sold shares of the company. FMR LLC purchased a new position in shares of Verastem in the third quarter valued at $41,000. SG Americas Securities LLC purchased a new position in Verastem in the 3rd quarter valued at about $43,000. JPMorgan Chase & Co. grew its stake in shares of Verastem by 55.4% during the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 6,016 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Verastem during the second quarter worth about $82,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Stock Performance

NASDAQ VSTM opened at $5.90 on Friday. The business’s 50-day moving average price is $4.59 and its 200 day moving average price is $3.44. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a twelve month low of $2.10 and a twelve month high of $14.22. The company has a market capitalization of $262.59 million, a PE ratio of -1.85 and a beta of 0.24.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. On average, research analysts predict that Verastem will post -3.16 earnings per share for the current year.

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.