Verastem (NASDAQ:VSTM) Price Target Raised to $20.00

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

Several other analysts also recently commented on the stock. Mizuho upped their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Verastem in a research note on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Guggenheim started coverage on Verastem in a research note on Monday, September 30th. They set a “buy” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat, Verastem presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Verastem Stock Up 25.5 %

Shares of NASDAQ:VSTM opened at $6.49 on Tuesday. The firm has a 50 day simple moving average of $4.35 and a 200-day simple moving average of $3.35. Verastem has a twelve month low of $2.10 and a twelve month high of $14.22. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $288.85 million, a PE ratio of -2.03 and a beta of 0.22.

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

Institutional Trading of Verastem

Institutional investors and hedge funds have recently modified their holdings of the business. Stonepine Capital Management LLC acquired a new position in Verastem in the 3rd quarter valued at about $3,918,000. Geode Capital Management LLC grew its holdings in shares of Verastem by 67.6% during the third quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock worth $2,663,000 after buying an additional 359,060 shares in the last quarter. State Street Corp lifted its stake in shares of Verastem by 18.2% during the third quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock valued at $1,269,000 after buying an additional 65,265 shares during the period. Nantahala Capital Management LLC acquired a new stake in Verastem during the second quarter worth approximately $1,192,000. Finally, Walleye Capital LLC grew its stake in Verastem by 493.7% in the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock worth $646,000 after acquiring an additional 179,725 shares during the period. Hedge funds and other 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.