Verastem, Inc. (NASDAQ:VSTM) Receives $15.60 Consensus Price Target from Analysts

Verastem, Inc. (NASDAQ:VSTM) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $15.60.

Several equities research analysts recently weighed in on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BTIG Research cut their target price on shares of Verastem from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and issued a $15.00 price objective (down from $19.00) on shares of Verastem in a research report on Monday, March 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Verastem in a research report on Friday, April 10th.

Institutional Investors Weigh In On Verastem

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets raised its position 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 worth $75,000 after acquiring an additional 4,496 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Verastem during the 2nd quarter worth about $49,000. DRW Securities LLC acquired a new stake in shares of Verastem during the 4th quarter worth about $93,000. Finally, Nebula Research & Development LLC purchased a new position in Verastem in the second quarter valued at approximately $53,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Verastem Price Performance

Shares of VSTM opened at $4.24 on Tuesday. Verastem has a fifty-two week low of $4.00 and a fifty-two week high of $11.24. The firm’s 50 day moving average price is $5.41 and its 200 day moving average price is $6.84. The company has a market cap of $372.57 million, a P/E ratio of -1.57 and a beta of 0.34. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89.

Verastem (NASDAQ:VSTM) last announced its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). Verastem had a negative return on equity of 486.40% and a negative net margin of 391.17%.The business had revenue of $17.54 million for the quarter, compared to analysts’ expectations of $16.85 million. On average, research analysts forecast that Verastem will post -1.57 earnings per share for the current fiscal year.

Verastem Company Profile

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.