Verastem (NASDAQ:VSTM) Share Price Crosses Above 200-Day Moving Average of $9.80

Verastem, Inc. (NASDAQ:VSTM - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.80 and traded as high as $11.63. Verastem shares last traded at $11.40, with a volume of 82,740 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VSTM shares. StockNews.com downgraded Verastem from a "hold" rating to a "sell" rating in a research report on Tuesday, March 12th. HC Wainwright reiterated 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 restated an "outperform" rating and issued a $32.00 price objective on shares of Verastem in a report on Friday, March 15th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.79.

Verastem Price Performance

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 firm has a market cap of $301.67 million, a price-to-earnings ratio of -2.91 and a beta of 0.58. The company's 50-day moving average price is $11.17 and its 200-day moving average price is $9.81.

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

Institutional Investors Weigh In On Verastem

A number of hedge funds have recently bought and sold shares of VSTM. International Assets Investment Management LLC grew its stake 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 purchasing an additional 9,150 shares in the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Verastem during the 1st quarter worth about $131,000. Bank of New York Mellon Corp increased 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 valued at $185,000 after acquiring an additional 4,939 shares during the last quarter. Citigroup Inc. acquired a new stake in shares of Verastem during the 3rd quarter worth about $245,000. Finally, Sectoral Asset Management Inc. purchased a new stake in Verastem during the third quarter worth approximately $1,653,000. Institutional investors and hedge funds own 88.37% of the company's stock.

Verastem Company Profile

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.