Verastem (NASDAQ:VSTM) Price Target Raised to $14.00

Verastem (NASDAQ:VSTM) had its target price upped by HC Wainwright from $10.00 to $14.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

VSTM has been the subject of a number of other research reports. Royal Bank of Canada reduced their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group began coverage on Verastem in a research note on Thursday, April 10th. They issued a “buy” rating and a $15.00 price objective for the company. Mizuho reduced their price objective on Verastem from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. B. Riley boosted their price objective on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Guggenheim upped their price target on Verastem from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.33.

Verastem Price Performance

Shares of NASDAQ VSTM opened at $7.17 on Friday. 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 has a twelve month low of $2.10 and a twelve month high of $13.52. The stock has a 50 day moving average of $6.36 and a two-hundred day moving average of $5.48. The stock has a market cap of $369.18 million, a P/E ratio of -2.25 and a beta of 0.85.

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

Institutional Investors Weigh In On Verastem

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in Verastem by 51.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 1,698 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 acquiring an additional 6,016 shares during the period. ProShare Advisors LLC acquired a new stake in Verastem in the fourth quarter valued at $56,000. Voya Investment Management LLC acquired a new stake in Verastem in the fourth quarter valued at $59,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in Verastem in the fourth quarter valued at $61,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.