Verastem (NASDAQ:VSTM) Share Price Crosses Above 200-Day Moving Average of $8.16

Posted by Defense World Staff on Aug 8th, 2023

Verastem, Inc. (NASDAQ:VSTM – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.16 and traded as high as $11.18. Verastem shares last traded at $10.22, with a volume of 294,116 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com assumed coverage on Verastem in a research report on Monday, May 29th. They set a “hold” rating for the company. Truist Financial dropped their price objective on Verastem from $60.00 to $39.00 in a research report on Tuesday, July 11th. Mizuho upgraded Verastem from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $36.00 in a research report on Thursday, June 15th. Royal Bank of Canada dropped their target price on Verastem from $36.00 to $34.00 in a research report on Monday, July 3rd. Finally, HC Wainwright dropped their target price on Verastem from $36.00 to $24.00 in a research report on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.71.

View Our Latest Report on VSTM

Verastem Stock Down 8.4 %

The firm has a 50 day moving average price of $12.36 and a two-hundred day moving average price of $8.16. The company has a debt-to-equity ratio of 1.20, a current ratio of 5.32 and a quick ratio of 5.32.

Verastem (NASDAQ:VSTM – Get Free Report) last issued its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.12. As a group, research analysts predict that Verastem, Inc. will post -4.05 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

Institutional investors and hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp grew its stake in Verastem by 54.0% in the fourth quarter. Synovus Financial Corp now owns 112,411 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 39,411 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Verastem in the fourth quarter valued at approximately $7,748,120,000. Wetherby Asset Management Inc. acquired a new stake in Verastem in the first quarter valued at approximately $134,000. Hsbc Holdings PLC acquired a new stake in Verastem in the first quarter valued at approximately $66,000. Finally, Jane Street Group LLC bought a new position in shares of Verastem in the fourth quarter valued at approximately $55,000.

About Verastem

(Get Free Report)

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.