Brokerages Set Verastem, Inc. (NASDAQ:VSTM) Price Target at $15.60

Shares of Verastem, Inc. (NASDAQ:VSTM) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.60.

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Verastem in a research report on Friday, April 10th. BTIG Research lowered their price objective on shares of Verastem from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 price objective (down from $19.00) on shares of Verastem in a research report on Monday, March 30th. Finally, Mizuho lowered their price objective on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th.

Institutional Trading of Verastem

Several large investors have recently bought and sold shares of VSTM. AQR Capital Management LLC grew its position in Verastem by 78.2% in the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 27,477 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Verastem by 236.9% in the first quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock valued at $4,561,000 after acquiring an additional 531,873 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Verastem by 24.9% during the second quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock worth $4,978,000 after buying an additional 238,995 shares in the last quarter. Rhumbline Advisers grew its position in shares of Verastem by 19.2% during the second quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 9,594 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Verastem by 40.0% during the second quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 14,879 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Trading Up 4.0%

Shares of VSTM stock opened at $4.17 on Friday. The stock has a market cap of $366.42 million, a price-to-earnings ratio of -1.54 and a beta of 0.27. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89. Verastem has a fifty-two week low of $3.55 and a fifty-two week high of $11.24. The firm’s 50 day moving average price is $4.89 and its two-hundred day moving average price is $6.19.

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.