Verastem, Inc. (NASDAQ:VSTM - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.47 and traded as high as $11.82. Verastem shares last traded at $11.81, with a volume of 75,876 shares changing hands.
Analysts Set New Price Targets
VSTM has been the topic of several recent research reports. StockNews.com downgraded shares of Verastem from a "hold" rating to a "sell" rating in a research report on Tuesday, March 12th. HC Wainwright reiterated a "buy" rating and issued a $17.50 price objective 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 research report on Friday, March 15th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $28.79.
Read Our Latest Research Report on VSTM
Verastem Price Performance
The company has a market capitalization of $285.89 million, a P/E ratio of -2.76 and a beta of 0.48. The business's 50-day simple moving average is $12.01 and its 200 day simple moving average is $9.48. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.70.
Verastem (NASDAQ:VSTM - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The biopharmaceutical company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.20). As a group, sell-side analysts anticipate that Verastem, Inc. will post -4.31 EPS for the current year.
Institutional Trading of Verastem
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sectoral Asset Management Inc. bought a new stake in shares of Verastem in the 3rd quarter worth approximately $1,653,000. Citigroup Inc. bought a new stake in shares of Verastem in the 3rd quarter worth approximately $245,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Verastem by 116.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company's stock worth $10,569,000 after purchasing an additional 700,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Verastem by 27.7% in 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 in the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of Verastem in the 3rd quarter worth approximately $1,653,000. 88.37% of the stock is currently owned by institutional investors.
About Verastem
(
Get Free Report)
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.
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