Analysts Set Verastem, Inc. (NASDAQ:VSTM) Target Price at $14.40

Shares of Verastem, Inc. (NASDAQ:VSTM) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.40.

Several analysts recently issued reports on the company. Wall Street Zen lowered Verastem from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Verastem in a research note on Wednesday, June 24th. Mizuho dropped their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Weiss Ratings cut Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Finally, Jefferies Financial Group reduced their price objective on shares of Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd.

Insider Activity at Verastem

In other news, CEO Dan Paterson sold 20,871 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $4.18, for a total value of $87,240.78. Following the completion of the sale, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verastem

Several hedge funds have recently made changes to their positions in the stock. Torray Investment Partners LLC bought a new stake in shares of Verastem in the 4th quarter worth approximately $1,671,000. Foresite Capital Management VI LLC lifted its holdings in shares of Verastem by 104.9% during the third quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company’s stock valued at $23,092,000 after acquiring an additional 1,338,600 shares during the period. Jefferies Financial Group Inc. boosted its position in Verastem by 48.4% in the third quarter. Jefferies Financial Group Inc. now owns 590,184 shares of the biopharmaceutical company’s stock valued at $5,211,000 after buying an additional 192,429 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Verastem by 3,333.8% in the 4th quarter. SG Americas Securities LLC now owns 390,325 shares of the biopharmaceutical company’s stock worth $3,013,000 after acquiring an additional 378,958 shares in the last quarter. Finally, AIGH Capital Management LLC acquired a new position in Verastem in the first quarter worth $10,600,000. Institutional investors own 88.37% of the company’s stock.

Verastem Price Performance

NASDAQ VSTM opened at $5.57 on Wednesday. Verastem has a 52-week low of $3.43 and a 52-week high of $11.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. The firm has a market capitalization of $489.44 million, a price-to-earnings ratio of -2.06 and a beta of 0.29. The company has a 50 day simple moving average of $4.36 and a 200-day simple moving average of $5.54.

About Verastem

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.