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

Key Points

• Verastem has a “Moderate Buy” consensus rating from 11 analysts: seven recommend buying, two strongly recommend buying, while one rates the stock a sell and one a hold. The average 12-month price target is $14.40, well above the reported $5.80 share price.
• Recent analyst views remain largely positive, with price targets ranging from $8 to $18, although Jefferies cut its target from $15 to $8. The company’s CEO also sold 20,871 shares at an average price of $4.18 under a pre-arranged trading plan.
• Institutional investors and hedge funds own 88.37% of Verastem’s stock. Shares have traded between $3.43 and $11.24 over the past year, with the 50-day and 200-day moving averages at $4.69 and $5.41, respectively.

Shares of Verastem, Inc. (NASDAQ:VSTM - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.40.

Several equities research analysts have recently issued reports on VSTM shares. Royal Bank Of Canada set a $14.00 price target on Verastem and gave the company an "outperform" rating in a report on Tuesday, July 7th. BTIG Research restated a "buy" rating and issued a $18.00 price objective on shares of Verastem in a report on Thursday, July 2nd. Wall Street Zen raised shares of Verastem from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Jefferies Financial Group reduced their target price on shares of Verastem from $15.00 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, June 23rd. Finally, HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of Verastem in a research report on Wednesday, June 24th.

Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the completion of the sale, the chief executive officer owned 591,242 shares of the company's stock, valued at approximately $2,471,391.56. The trade was a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.94% of the company's stock.

Hedge Funds Weigh In On Verastem

Several hedge funds have recently bought and sold shares of VSTM. Russell Investments Group Ltd. raised its holdings in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company's stock valued at $40,000 after buying an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Verastem during the 2nd quarter worth about $49,000. Nebula Research & Development LLC bought a new stake 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% during 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. Finally, BNP Paribas Financial Markets increased its holdings in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company's stock valued at $75,000 after acquiring an additional 4,496 shares during the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.

Verastem Stock Performance

Shares of VSTM stock opened at $5.80 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. Verastem has a fifty-two week low of $3.43 and a fifty-two week high of $11.24. The stock's 50-day moving average is $4.69 and its two-hundred day moving average is $5.41. The firm has a market cap of $509.65 million, a P/E ratio of -2.15 and a beta of 0.29.

About Verastem

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.