Verastem (NASDAQ:VSTM) Stock Price Crosses Above 200-Day Moving Average of $10.14

Verastem, Inc. (NASDAQ:VSTMGet Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.14 and traded as high as $11.88. Verastem shares last traded at $11.61, with a volume of 74,721 shares changing hands.

Wall Street Analysts Forecast Growth

VSTM has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Verastem in a report on Friday, March 15th. StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, HC Wainwright restated a “buy” rating and set a $17.50 price target on shares of Verastem in a report on Monday, May 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.79.

Read Our Latest Stock Analysis on Verastem

Verastem Trading Up 1.0 %

The firm has a market cap of $294.08 million, a P/E ratio of -2.64 and a beta of 0.58. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.60. The firm’s 50-day simple moving average is $11.17 and its 200 day simple moving average is $10.14.

Verastem (NASDAQ:VSTMGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.10). As a group, analysts expect that Verastem, Inc. will post -4.16 earnings per share for the current year.

Institutional Trading of Verastem

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC raised its position in shares of Verastem by 114,375.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 9,150 shares during the period. Cannon Global Investment Management LLC bought a new stake in shares of Verastem in the first quarter valued at approximately $131,000. Bank of New York Mellon Corp raised its position in shares of Verastem by 27.7% in the third quarter. Bank of New York Mellon Corp now owns 22,758 shares of the biopharmaceutical company’s stock valued at $185,000 after purchasing an additional 4,939 shares during the period. Citigroup Inc. bought a new stake in shares of Verastem in the third quarter valued at approximately $245,000. Finally, Sectoral Asset Management Inc. bought a new stake in shares of Verastem in the third quarter valued at approximately $1,653,000. Institutional investors own 88.37% of the company’s stock.

Verastem Company Profile

(Get Free Report)

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.

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