Verastem (NASDAQ:VSTM) Given Buy Rating at Mizuho

Mizuho reissued their buy rating on shares of Verastem (NASDAQ:VSTM) in a research note published on Tuesday, Benzinga reports. They currently have a $36.00 price target on the biopharmaceutical company’s stock.

Several other research analysts have also commented on VSTM. Truist Financial reduced their price target on Verastem from $60.00 to $39.00 in a research report on Tuesday, July 11th. StockNews.com downgraded Verastem from a hold rating to a sell rating in a research note on Wednesday, August 16th. Royal Bank of Canada reduced their price target on Verastem from $34.00 to $32.00 and set an outperform rating for the company in a report on Wednesday, August 9th. HC Wainwright reduced their price target on Verastem from $36.00 to $24.00 in a report on Wednesday, May 10th. Finally, Cantor Fitzgerald increased their target price on Verastem from $3.00 to $34.00 in a report on Monday, June 26th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $42.43.

Verastem Price Performance

VSTM opened at $9.80 on Tuesday. The business has a fifty day moving average of $9.40 and a 200 day moving average of $7.43. Verastem has a 52-week low of $3.47 and a 52-week high of $16.08. The company has a quick ratio of 9.14, a current ratio of 9.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $247.45 million, a P/E ratio of -2.24 and a beta of 0.62.

Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.24). As a group, sell-side analysts anticipate that Verastem will post -4.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VSTM. Millennium Management LLC boosted its position in shares of Verastem by 417.3% during the second quarter. Millennium Management LLC now owns 5,154,530 shares of the biopharmaceutical company’s stock worth $5,979,000 after buying an additional 4,158,108 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Verastem in the fourth quarter valued at $662,000. Renaissance Technologies LLC raised its stake in shares of Verastem by 190.2% in the first quarter. Renaissance Technologies LLC now owns 1,684,106 shares of the biopharmaceutical company’s stock valued at $2,375,000 after acquiring an additional 1,103,806 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Verastem by 6.6% in the third quarter. Vanguard Group Inc. now owns 8,511,513 shares of the biopharmaceutical company’s stock valued at $7,235,000 after acquiring an additional 528,022 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Verastem in the third quarter valued at $322,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

About Verastem

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.