Verastem, Inc. (NASDAQ:VSTM) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Verastem, Inc. (NASDAQ:VSTM) has received an average rating of “Moderate Buy” from ten research firms, with a majority issuing buy or strong buy recommendations.
• The stock opened at $8.70, has a market capitalization of $535.40 million, and reported a loss of ($0.39) EPS for the last quarter, exceeding analyst expectations.
• Institutional investors control 88.37% of Verastem's stock, indicating strong confidence among major stakeholders in the biopharmaceutical company's potential.

Shares of Verastem, Inc. (NASDAQ:VSTM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $13.2857.

Several equities research analysts recently weighed in on VSTM shares. Zacks Research raised shares of Verastem to a "hold" rating in a research note on Tuesday, August 12th. B. Riley upgraded shares of Verastem to a "strong-buy" rating in a research note on Monday, August 25th. BTIG Research reiterated a "buy" rating and issued a $20.00 price objective on shares of Verastem in a research note on Tuesday, September 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Verastem in a report on Saturday, September 27th. Finally, Royal Bank Of Canada upped their price target on Verastem from $12.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday, August 8th.

Verastem Trading Down 3.2%

Shares of NASDAQ VSTM opened at $8.70 on Monday. The company has a current ratio of 3.46, a quick ratio of 3.44 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $535.40 million, a PE ratio of -2.65 and a beta of 0.89. Verastem has a twelve month low of $2.54 and a twelve month high of $11.24. The stock has a fifty day simple moving average of $8.44 and a 200-day simple moving average of $6.85.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.64) by $0.25. The firm had revenue of $2.14 million for the quarter, compared to analysts' expectations of $6.01 million. On average, equities analysts forecast that Verastem will post -3.02 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

A number of hedge funds and other institutional investors have recently modified their holdings of VSTM. E Fund Management Co. Ltd. acquired a new position in shares of Verastem during the second quarter worth $49,000. Nebula Research & Development LLC acquired a new position in shares of Verastem during the 2nd quarter worth about $53,000. The Manufacturers Life Insurance Company increased its holdings in shares of Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 1,440 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Verastem during the 4th quarter worth about $92,000. Finally, Jane Street Group LLC lifted its stake in Verastem by 31.2% during the fourth quarter. Jane Street Group LLC now owns 19,932 shares of the biopharmaceutical company's stock worth $103,000 after purchasing an additional 4,740 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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