Verastem, Inc. (NASDAQ:VSTM) Receives $16.33 Consensus Price Target from Brokerages

Shares of Verastem, Inc. (NASDAQ:VSTM) have been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.00.

A number of research firms have weighed in on VSTM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. HC Wainwright assumed coverage on shares of Verastem in a report on Wednesday, February 4th. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Research downgraded Verastem from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Mizuho set a $18.00 price objective on Verastem in a report on Thursday, February 19th. Finally, Guggenheim reissued a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th.

Insider Buying and Selling at Verastem

In other Verastem news, CEO Dan Paterson sold 10,321 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $73,898.36. Following the sale, the chief executive officer directly owned 400,104 shares of the company’s stock, valued at $2,864,744.64. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Calkins sold 5,039 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $36,079.24. Following the transaction, the chief financial officer owned 104,719 shares of the company’s stock, valued at $749,788.04. This represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,678 shares of company stock valued at $128,685 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Verastem

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake 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 valued at $40,000 after buying an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Verastem in the 2nd quarter worth approximately $49,000. Nebula Research & Development LLC purchased a new position in Verastem in the 2nd quarter valued at approximately $53,000. The Manufacturers Life Insurance Company raised its holdings in 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 period. Finally, BNP Paribas Financial Markets raised its holdings in 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 period. Institutional investors own 88.37% of the company’s stock.

Verastem Trading Down 3.1%

NASDAQ VSTM opened at $6.19 on Thursday. The business’s fifty day moving average is $6.41 and its 200-day moving average is $8.13. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.09 and a quick ratio of 3.07. The stock has a market capitalization of $413.37 million, a price-to-earnings ratio of -1.93 and a beta of 0.40. Verastem has a one year low of $4.01 and a one year high of $11.24.

Verastem (NASDAQ:VSTM) last posted its quarterly 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). The company had revenue of $17.54 million for the quarter, compared to the consensus estimate of $16.85 million. Equities research analysts predict that Verastem will post -3.02 EPS for the current 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.