Verastem Inc (NASDAQ:VSTM) Receives $8.70 Average PT from Analysts

Verastem Inc (NASDAQ:VSTM) has been given an average rating of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.70.

A number of brokerages recently commented on VSTM. Zacks Investment Research lowered Verastem from a “hold” rating to a “sell” rating in a research note on Saturday, May 18th. BTIG Research lowered Verastem from a “buy” rating to a “neutral” rating in a research note on Thursday, June 20th. Finally, Roth Capital cut their target price on Verastem from $14.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th.

VSTM opened at $1.60 on Tuesday. The stock has a 50 day moving average of $1.45. Verastem has a twelve month low of $1.16 and a twelve month high of $10.35. The company has a current ratio of 7.57, a quick ratio of 7.56 and a debt-to-equity ratio of 1.42. The firm has a market cap of $117.46 million, a price-to-earnings ratio of -1.17 and a beta of 3.01.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). Verastem had a negative return on equity of 79.68% and a negative net margin of 315.21%. The business had revenue of $1.67 million for the quarter, compared to analyst estimates of $2.84 million. On average, research analysts expect that Verastem will post -1.97 EPS for the current year.

Several hedge funds have recently made changes to their positions in VSTM. Marshall Wace North America L.P. acquired a new position in shares of Verastem during the 1st quarter worth $62,000. Marshall Wace LLP bought a new stake in Verastem during the 1st quarter worth $319,000. Stratos Wealth Partners LTD. bought a new stake in Verastem during the 1st quarter worth $30,000. Rhumbline Advisers grew its position in Verastem by 26.2% during the 1st quarter. Rhumbline Advisers now owns 110,813 shares of the biopharmaceutical company’s stock worth $328,000 after acquiring an additional 23,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA bought a new stake in Verastem during the 1st quarter worth $42,000. Institutional investors own 43.83% of the company’s stock.

About Verastem

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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