Verastem, Inc. (NASDAQ:VSTM) Receives $13.89 Average Target Price from Brokerages

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have covered the stock in the last year is $13.89.

Several brokerages recently issued reports on VSTM. BTIG Research boosted their target price on shares of Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 31st. HC Wainwright boosted their price objective on shares of Verastem from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, March 24th. Royal Bank of Canada decreased their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. B. Riley lifted their target price on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, StockNews.com cut Verastem from a “hold” rating to a “sell” rating in a research report on Friday.

Verastem Stock Performance

VSTM stock opened at $5.74 on Monday. The company has a market cap of $295.55 million, a P/E ratio of -1.80 and a beta of 0.57. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. Verastem has a 1 year low of $2.10 and a 1 year high of $13.52. The stock’s fifty day moving average price is $5.95 and its 200-day moving average price is $5.03.

Verastem (NASDAQ:VSTM) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.57). On average, equities analysts forecast that Verastem will post -3.02 earnings per share for the current year.

Institutional Trading of Verastem

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its holdings in Verastem by 51.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 1,698 shares in the last quarter. FMR LLC bought a new stake in shares of Verastem during the third quarter valued at approximately $41,000. JPMorgan Chase & Co. lifted its holdings in shares of Verastem by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 6,016 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Verastem during the fourth quarter worth $56,000. Finally, Voya Investment Management LLC purchased a new position in Verastem during the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.