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

Shares of Verastem, Inc. (NASDAQ:VSTM) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $15.60.

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $15.00 price objective (down from $19.00) on shares of Verastem in a research report on Monday, March 30th. Alliance Global Partners restated a “buy” rating on shares of Verastem in a research report on Friday, May 8th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Verastem in a research report on Friday, April 10th. Finally, Mizuho lowered their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th.

Verastem Stock Performance

VSTM opened at $4.12 on Friday. Verastem has a fifty-two week low of $3.55 and a fifty-two week high of $11.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. The firm has a market capitalization of $362.02 million, a price-to-earnings ratio of -1.53 and a beta of 0.27. The company’s 50 day moving average price is $4.84 and its two-hundred day moving average price is $6.13.

Institutional Trading of Verastem

A number of institutional investors have recently bought and sold shares of the company. RTW Investments LP boosted its position in Verastem by 21.2% during the fourth quarter. RTW Investments LP now owns 6,576,306 shares of the biopharmaceutical company’s stock valued at $50,769,000 after acquiring an additional 1,150,000 shares during the last quarter. Polar Capital Holdings Plc boosted its position in Verastem by 270.7% during the fourth quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock valued at $30,302,000 after acquiring an additional 2,866,350 shares during the last quarter. Armistice Capital LLC boosted its position in Verastem by 68.7% during the fourth quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock valued at $27,298,000 after acquiring an additional 1,440,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Verastem by 1.6% during the third quarter. Vanguard Group Inc. now owns 3,479,011 shares of the biopharmaceutical company’s stock valued at $30,720,000 after acquiring an additional 55,394 shares during the last quarter. Finally, State Street Corp boosted its position in Verastem by 44.5% during the fourth quarter. State Street Corp now owns 3,219,295 shares of the biopharmaceutical company’s stock valued at $24,853,000 after acquiring an additional 990,655 shares during the last quarter. Institutional investors own 88.37% of the company’s stock.

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.