Brokerages Set Verastem, Inc. (NASDAQ:VSTM) Target Price at $15.83

by · The Markets Daily

Shares of Verastem, Inc. (NASDAQ:VSTM – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.8333.

A number of analysts have recently commented on the company. Cantor Fitzgerald raised Verastem to a “strong-buy” rating in a research note on Thursday, October 30th. Royal Bank Of Canada set a $13.00 target price on shares of Verastem and gave the stock an “outperform” rating in a research report on Monday, October 20th. Zacks Research cut shares of Verastem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Guggenheim reaffirmed a “buy” rating on shares of Verastem in a research note on Tuesday, December 30th. Finally, HC Wainwright began coverage on shares of Verastem in a research note on Wednesday, February 4th. They issued a “buy” rating and a $18.00 price objective on the stock.

Get Our Latest Analysis on Verastem

Insider Buying and Selling

In other news, Director Michael Kauffman sold 8,550 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $10.00, for a total value of $85,500.00. Following the completion of the sale, the director owned 8,666 shares of the company’s stock, valued at approximately $86,660. This represents a 49.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel Calkins sold 5,039 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $7.16, for a total value 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 trade represents a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 50,478 shares of company stock worth $462,045. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position 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 worth $40,000 after purchasing an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Verastem during the 2nd quarter worth approximately $49,000. Nebula Research & Development LLC bought a new position in Verastem in the second quarter worth approximately $53,000. The Manufacturers Life Insurance Company boosted its holdings in 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Verastem by 110.9% in the third 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 and hedge funds own 88.37% of the company’s stock.

Verastem Stock Performance

Shares of Verastem stock opened at $6.28 on Friday. The company’s 50 day moving average price is $7.61 and its two-hundred day moving average price is $8.31. The firm has a market capitalization of $419.35 million, a P/E ratio of -1.56 and a beta of 0.41. Verastem has a fifty-two week low of $4.01 and a fifty-two week high of $11.24. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55.

Verastem Company Profile

(Get Free Report)

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.

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