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

Shares of Verastem, Inc. (NASDAQ:VSTM) have been given a consensus recommendation of “Buy” by the nine research firms that are covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $13.63.

Several analysts have commented on the stock. Mizuho lifted their price objective on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Verastem in a research report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on shares of Verastem from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. BTIG Research lifted their price objective on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Finally, Guggenheim reissued a “buy” rating on shares of Verastem in a research report on Friday, January 24th.

Verastem Stock Performance

Shares of VSTM stock opened at $6.98 on Thursday. The firm has a market cap of $310.66 million, a price-to-earnings ratio of -2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. Verastem has a 52 week low of $2.10 and a 52 week high of $13.52. The firm’s 50-day simple moving average is $5.98 and its two-hundred day simple moving average is $4.57.

Insider Activity

In related news, CEO Dan Paterson sold 8,568 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the transaction, the chief executive officer now owns 347,581 shares of the company’s stock, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 10,053 shares of company stock valued at $53,890 over the last quarter. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Verastem

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in Verastem by 51.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 1,698 shares in the last quarter. ProShare Advisors LLC purchased a new position in Verastem during the fourth quarter valued at approximately $56,000. Voya Investment Management LLC purchased a new position in Verastem during the fourth quarter valued at approximately $59,000. Sherbrooke Park Advisers LLC purchased a new position in Verastem during the fourth quarter valued at approximately $61,000. Finally, FMR LLC purchased a new position in Verastem during the third quarter valued at approximately $41,000. 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.