Verastem, Inc. (NASDAQ:VSTM) Given Consensus Recommendation of "Buy" by Brokerages

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) has been given an average recommendation of "Buy" by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $28.79.

VSTM has been the topic of a number of research analyst reports. StockNews.com lowered Verastem from a "hold" rating to a "sell" rating in a report on Tuesday, March 12th. HC Wainwright restated a "buy" rating and set a $17.50 price target on shares of Verastem in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $32.00 price objective on shares of Verastem in a report on Friday, March 15th.

Verastem Stock Performance

NASDAQ VSTM traded up $0.25 during trading hours on Monday, hitting $9.63. 39,823 shares of the stock were exchanged, compared to its average volume of 134,904. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.70. The company has a market cap of $243.74 million, a price-to-earnings ratio of -2.35 and a beta of 0.48. Verastem has a 12-month low of $4.68 and a 12-month high of $15.18. The stock has a 50-day moving average of $11.50 and a 200 day moving average of $9.64.

Verastem (NASDAQ:VSTM - Get Free Report) last released its earnings results on Thursday, March 14th. The biopharmaceutical company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.20). As a group, equities research analysts forecast that Verastem will post -4.31 earnings per share for the current year.

Hedge Funds Weigh In On Verastem

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Verastem by 27.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company's stock worth $185,000 after purchasing an additional 4,939 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Verastem by 114,375.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company's stock worth $75,000 after acquiring an additional 9,150 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in Verastem in the 1st quarter valued at about $131,000. Citigroup Inc. purchased a new stake in Verastem in the third quarter worth $245,000. Finally, Sectoral Asset Management Inc. purchased a new stake in Verastem during the 3rd quarter worth about $1,653,000. 88.37% of the stock is owned by institutional investors.

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.