Verastem (NASDAQ:VSTM) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Verastem, Inc. (NASDAQ:VSTM)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.28 and traded as high as $4.80. Verastem shares last traded at $4.60, with a volume of 430,557 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VSTM. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Verastem in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Verastem in a research note on Friday, October 18th. StockNews.com cut Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Guggenheim started coverage on Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

Verastem Trading Up 4.2 %

The firm has a market cap of $197.61 million, a price-to-earnings ratio of -1.39 and a beta of 0.22. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The business has a 50-day moving average of $4.10 and a 200-day moving average of $3.30.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.11. Research analysts anticipate that Verastem, Inc. will post -3.16 EPS for the current year.

Hedge Funds Weigh In On Verastem

A number of institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC grew its position in shares of Verastem by 493.7% in the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock valued at $646,000 after acquiring an additional 179,725 shares during the period. Nantahala Capital Management LLC bought a new position in Verastem during the second quarter worth about $1,192,000. SG Americas Securities LLC bought a new position in Verastem during the third quarter worth about $43,000. Apollon Wealth Management LLC increased its position in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 10,457 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Verastem in the second quarter valued at approximately $203,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Company Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.