BTIG Research Issues Positive Forecast for Verastem (NASDAQ:VSTM) Stock Price

Verastem (NASDAQ:VSTM) had its price objective increased by BTIG Research from $13.00 to $20.00 in a research report released on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Guggenheim assumed coverage on Verastem in a research note on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective on the stock. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. Mizuho boosted their target price on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Verastem in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Verastem has an average rating of “Moderate Buy” and an average price target of $13.00.

Verastem Stock Up 40.9 %

Verastem stock opened at $5.17 on Tuesday. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22. The stock has a market cap of $230.10 million, a price-to-earnings ratio of -1.62 and a beta of 0.22. The company’s 50-day moving average price is $4.25 and its two-hundred day moving average price is $3.32. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. On average, analysts expect that Verastem will post -3.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Verastem

Hedge funds have recently modified their holdings of the business. FMR LLC acquired a new position in Verastem during the 3rd quarter valued at $41,000. SG Americas Securities LLC acquired a new position in shares of Verastem during the third quarter valued at about $43,000. JPMorgan Chase & Co. lifted its stake 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 buying an additional 6,016 shares during the period. Apollon Wealth Management LLC grew its position 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 buying an additional 10,457 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Verastem in the second quarter worth $82,000. 88.37% of the stock is owned by institutional investors.

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.