Brokerages Set Verastem, Inc. (NASDAQ:VSTM) PT at $13.89

Shares of Verastem, Inc. (NASDAQ:VSTM - Get Free Report) have earned a consensus rating of "Buy" from the ten analysts that are covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.33.

VSTM has been the subject of several recent analyst reports. B. Riley lifted their price target on Verastem from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. StockNews.com downgraded shares of Verastem from a "hold" rating to a "sell" rating in a research report on Friday, April 18th. Mizuho lowered their price objective on Verastem from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group initiated coverage on Verastem in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 target price on the stock.

Hedge Funds Weigh In On Verastem

Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 1,698 shares in the last quarter. Invesco Ltd. increased its position in Verastem by 18.4% during the 4th quarter. Invesco Ltd. now owns 14,680 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 2,281 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Verastem by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 117,784 shares of the biopharmaceutical company's stock valued at $710,000 after purchasing an additional 4,183 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Verastem by 31.2% during the fourth quarter. Jane Street Group LLC now owns 19,932 shares of the biopharmaceutical company's stock valued at $103,000 after purchasing an additional 4,740 shares in the last quarter. Finally, Aries Wealth Management grew its stake in Verastem by 23.3% in the fourth quarter. Aries Wealth Management now owns 26,415 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 88.37% of the company's stock.

Verastem Price Performance

Shares of VSTM traded up $0.12 during midday trading on Friday, reaching $7.58. The stock had a trading volume of 1,124,304 shares, compared to its average volume of 1,171,870. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a 12-month low of $2.10 and a 12-month high of $13.52. The company has a market capitalization of $390.35 million, a price-to-earnings ratio of -2.38 and a beta of 0.85. The company's 50-day moving average is $6.39 and its 200 day moving average is $5.52.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.24). On average, equities analysts predict that Verastem will post -3.02 EPS for the current fiscal year.

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.