Verastem (NASDAQ:VSTM) Stock Crosses Above 200 Day Moving Average – Here’s Why

Verastem, Inc. (NASDAQ:VSTM)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.28 and traded as high as $4.80. Verastem shares last traded at $4.60, with a volume of 430,557 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VSTM shares. Guggenheim assumed coverage on shares of Verastem in a report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Verastem in a research note on Thursday. Mizuho raised their target price on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Verastem in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verastem currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Verastem Stock Performance

The firm has a market cap of $197.61 million, a P/E ratio of -1.39 and a beta of 0.22. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. The firm has a fifty day moving average of $4.10 and a 200-day moving average of $3.30.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.11. Research analysts predict that Verastem, Inc. will post -3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VSTM. FMR LLC bought a new position in shares of Verastem during the third quarter worth $41,000. SG Americas Securities LLC acquired a new stake in Verastem during the 3rd quarter worth $43,000. Apollon Wealth Management LLC lifted its holdings in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Verastem in the second quarter valued at about $82,000. Finally, Rhumbline Advisers increased its holdings in shares of Verastem by 4,172.0% in the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 28,119 shares in the last quarter. Institutional investors own 88.37% of the company’s stock.

About Verastem

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.