Verastem, Inc. (NASDAQ:VSTM) Receives $17.40 Consensus Target Price from Analysts

Verastem, Inc. (NASDAQ:VSTM) has been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.60.

A number of equities analysts recently commented on VSTM shares. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Guggenheim restated a “buy” rating on shares of Verastem in a report on Tuesday, December 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 target price (down from $19.00) on shares of Verastem in a research report on Monday. HC Wainwright started coverage on Verastem in a report on Wednesday, February 4th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Mizuho set a $18.00 price target on Verastem in a research report on Thursday, February 19th.

Verastem Price Performance

VSTM stock opened at $5.55 on Monday. The company has a current ratio of 3.09, a quick ratio of 3.07 and a debt-to-equity ratio of 1.33. Verastem has a one year low of $4.01 and a one year high of $11.24. The firm has a market capitalization of $487.46 million, a PE ratio of -1.73 and a beta of 0.43. The firm has a 50-day moving average of $5.92 and a two-hundred day moving average of $7.69.

Verastem (NASDAQ:VSTM) last released 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). The firm had revenue of $17.54 million for the quarter, compared to analyst estimates of $16.85 million. On average, analysts forecast that Verastem will post -3.02 earnings per share for the current year.

Insider Activity

In other news, CEO Dan Paterson sold 10,321 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $7.16, for a total value of $73,898.36. Following the completion of 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 can be accessed through this link. Also, CFO Daniel Calkins sold 5,039 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $36,079.24. Following the sale, the chief financial officer owned 104,719 shares of the company’s stock, valued at approximately $749,788.04. This represents a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 16,330 shares of company stock worth $116,467. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Verastem during the 2nd quarter valued at $49,000. Nebula Research & Development LLC purchased a new position in shares of Verastem during the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company increased its stake in shares of Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,440 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Verastem by 110.9% during the third 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. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.