Brokerages Set Verastem, Inc. (NASDAQ:VSTM) PT at $14.40

Verastem, Inc. (NASDAQ:VSTM) has received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.40.

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Verastem in a research report on Wednesday, June 24th. Alliance Global Partners restated a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Jefferies Financial Group lowered their price target on Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada set a $14.00 price objective on Verastem and gave the company an “outperform” rating in a research note on Tuesday, July 7th.

Verastem Price Performance

Shares of VSTM opened at $5.81 on Friday. Verastem has a 1-year low of $3.43 and a 1-year high of $11.24. The stock has a market cap of $510.52 million, a PE ratio of -2.15 and a beta of 0.26. The firm has a 50-day simple moving average of $4.75 and a two-hundred day simple moving average of $5.38. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 20,871 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the sale, the chief executive officer directly owned 591,242 shares in the company, valued at $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Verastem

Several large investors have recently added to or reduced their stakes in VSTM. Polar Capital Holdings Plc boosted its position in Verastem by 270.7% in the 4th quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock valued at $30,302,000 after buying an additional 2,866,350 shares during the period. AIGH Capital Management LLC purchased a new position in Verastem in the first quarter valued at $10,600,000. Farallon Capital Management LLC acquired a new position in Verastem during the 4th quarter worth $15,440,000. SymBiosis Capital Partners LLC acquired a new position in Verastem during the 4th quarter worth $15,440,000. Finally, Armistice Capital LLC increased its holdings in Verastem by 68.7% during the 4th quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock worth $27,298,000 after purchasing an additional 1,440,000 shares during the period. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.