Verastem, Inc. (VSTM) – What Are Investment Firms Thinking About This Stock?

Shares of Verastem, Inc. (NASDAQ:VSTM) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $16.67.

VSTM has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Monday, September 28th. Citigroup restated a “buy” rating on shares of Verastem in a research note on Thursday, October 8th. Wolfe Research began coverage on Verastem in a research report on Thursday, September 17th. They set an “outperform” rating for the company. Wall Street Zen upgraded Verastem from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $19.00 target price (up from $14.00) on shares of Verastem in a report on Thursday, October 15th.

Insider Activity at Verastem

In other news, CEO Dan Paterson sold 44,121 shares of Verastem stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $8.00, for a total value of $352,968.00. Following the sale, the chief executive officer owned 652,712 shares of the company’s stock, valued at $5,221,696. The trade was a 6.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 48,044 shares of company stock valued at $381,484. 1.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verastem

A number of large investors have recently modified their holdings of the business. Seven Fleet Capital Management LP acquired a new stake in shares of Verastem in the 4th quarter valued at approximately $117,000. Hsbc Holdings PLC acquired a new position in Verastem during the first quarter worth $210,000. ADAR1 Capital Management LLC purchased a new position in Verastem in the first quarter worth $377,000. Quantinno Capital Management LP purchased a new position in Verastem in the first quarter worth $394,000. Finally, Knott David M Jr purchased a new position in Verastem in the first quarter worth $551,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Verastem Stock Up 9.2%

Shares of NASDAQ VSTM opened at $10.06 on Friday. The business has a 50-day moving average of $7.84 and a two-hundred day moving average of $6.07. The company has a market capitalization of $911.03 million, a price-to-earnings ratio of -3.78 and a beta of 0.39. Verastem has a 1 year low of $3.43 and a 1 year high of $10.82. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.25 and a quick ratio of 2.22.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $40.08 million for the quarter, compared to the consensus estimate of $22.88 million. Verastem had a negative return on equity of 467.49% and a negative net margin of 231.59%. On average, analysts forecast that Verastem will post -1.51 earnings per share for the current fiscal year.

About Verastem

Verastem, operating as Verastem Oncology, is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancer. The company’s research is centered on tumors driven by abnormalities in the RAS/MAPK signaling pathway, which can promote cancer-cell growth and resistance to treatment.

Verastem’s leading product candidates include avutometinib, an oral RAF/MEK clamp designed to inhibit signaling within the RAS/MAPK pathway, and defactinib, an oral focal adhesion kinase inhibitor.