Analysts Set Verastem, Inc. (NASDAQ:VSTM) Price Target at $13.63

Verastem, Inc. (NASDAQ:VSTM) has received a consensus rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have covered the stock in the last year is $13.63.

A number of brokerages recently commented on VSTM. B. Riley increased their price target on shares of Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, January 31st. BTIG Research lifted their target price on Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Royal Bank of Canada boosted their target price on Verastem from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Verastem in a research report on Thursday, December 19th. Finally, StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th.

Verastem Trading Up 0.4 %

Shares of Verastem stock opened at $5.43 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a twelve month low of $2.10 and a twelve month high of $13.61. The business has a 50-day moving average price of $5.50 and a 200-day moving average price of $4.14. The firm has a market cap of $241.67 million, a price-to-earnings ratio of -1.70 and a beta of 0.28.

Insider Transactions at Verastem

In other Verastem news, CEO Dan Paterson sold 8,568 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $5.24, for a total value of $44,896.32. Following the transaction, the chief executive officer now directly owns 347,581 shares in the company, valued at $1,821,324.44. This represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 10,367 shares of company stock worth $53,990. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Verastem

Several large investors have recently modified their holdings of VSTM. Balyasny Asset Management L.P. bought a new position in shares of Verastem during the 4th quarter worth approximately $20,400,000. AIGH Capital Management LLC purchased a new position in Verastem in the 4th quarter worth $13,778,000. Stonepine Capital Management LLC acquired a new stake in Verastem during the 3rd quarter worth about $3,918,000. Rosalind Advisors Inc. purchased a new stake in Verastem during the 4th quarter valued at about $4,653,000. Finally, Marshall Wace LLP purchased a new stake in Verastem during the 4th quarter valued at about $4,103,000. Institutional investors own 88.37% of the company’s stock.

About Verastem

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.