Verastem (NASDAQ:VSTM) Price Target Raised to $10.00

Verastem (NASDAQ:VSTM) had its price objective upped by HC Wainwright from $7.00 to $10.00 in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on the company. Mizuho upped their price target on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. BTIG Research increased their target price on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 31st. Royal Bank of Canada lowered their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. B. Riley boosted their price target on shares of Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Guggenheim restated a “buy” rating on shares of Verastem in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.88.

Verastem Stock Performance

Shares of VSTM opened at $6.40 on Monday. The firm has a market cap of $284.84 million, a P/E ratio of -2.01 and a beta of 0.60. Verastem has a twelve month low of $2.10 and a twelve month high of $13.52. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. The firm’s 50 day moving average price is $6.10 and its two-hundred day moving average price is $4.72.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.57). On average, analysts forecast that Verastem will post -3.02 EPS for the current fiscal year.

Insider Activity at Verastem

In other Verastem news, CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the transaction, the chief executive officer now directly owns 347,581 shares of the company’s stock, valued at $1,821,324.44. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 9,960 shares of company stock worth $53,498. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Verastem

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in Verastem by 51.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 1,698 shares during the last quarter. FMR LLC bought a new stake in shares of Verastem during the third quarter worth approximately $41,000. JPMorgan Chase & Co. grew its position in shares of Verastem by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 6,016 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Verastem during the fourth quarter worth approximately $56,000. Finally, Voya Investment Management LLC bought a new position in shares of Verastem during the fourth quarter worth approximately $59,000. 88.37% of the stock is owned by institutional investors.

Verastem Company Profile

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.