Verastem, Inc. (NASDAQ:VSTM) Stock Has Consensus Price Target of $13.83 According to Analysts

Shares of Verastem, Inc. (NASDAQ:VSTM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $13.83.

VSTM has been the subject of several analyst reports. Weiss Ratings upgraded Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 4th. Guggenheim set a $12.00 price target on Verastem and gave the stock a “buy” rating in a report on Friday, August 7th. Wolfe Research started coverage on shares of Verastem in a research report on Thursday, September 17th. They set an “outperform” rating for the company. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Friday, September 11th. Finally, Royal Bank Of Canada set a $14.00 target price on shares of Verastem and gave the company an “outperform” rating in a report on Tuesday, July 7th.

Get Our Latest Report on VSTM

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VSTM. Opaleye Management Inc. bought a new position in shares of Verastem during the 2nd quarter worth about $6,876,000. Bank of New York Mellon Corp purchased a new stake in Verastem in the 2nd quarter valued at $706,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Verastem by 157.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 569,195 shares of the biopharmaceutical company’s stock valued at $2,174,000 after purchasing an additional 347,872 shares during the last quarter. Seven Fleet Capital Management LP lifted its position in shares of Verastem by 715.1% during the 1st quarter. Seven Fleet Capital Management LP now owns 123,400 shares of the biopharmaceutical company’s stock worth $654,000 after buying an additional 108,260 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Verastem by 31.6% during the first quarter. Bank of America Corp DE now owns 416,985 shares of the biopharmaceutical company’s stock worth $2,210,000 after acquiring an additional 100,123 shares during the period. 88.37% of the stock is owned by institutional investors.

Verastem Price Performance

VSTM stock opened at $7.74 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.25 and a quick ratio of 2.22. The stock has a market capitalization of $700.93 million, a P/E ratio of -2.91 and a beta of 0.32. The business has a 50-day moving average of $7.02 and a 200-day moving average of $5.69. Verastem has a fifty-two week low of $3.43 and a fifty-two week high of $10.82.

Verastem (NASDAQ:VSTM – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Verastem had a negative return on equity of 467.49% and a negative net margin of 231.59%.The business had revenue of $40.08 million for the quarter, compared to analyst estimates of $22.88 million. On average, sell-side analysts anticipate that Verastem will post -1.56 earnings per share for the current fiscal year.

About Verastem

(Get Free Report)

Verastem Oncology is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancers driven by abnormalities in the RAS/MAPK signaling pathway. The company’s research is aimed at addressing cancers with limited treatment options, including ovarian cancer and other solid tumors.

Verastem’s principal products include avutometinib, a RAF/MEK pathway inhibitor, and defactinib, a focal adhesion kinase (FAK) inhibitor. The company has studied these therapies both individually and in combination, with the goal of improving cancer-cell response and overcoming treatment resistance.

Further Reading

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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