Verastem (NASDAQ:VSTM) Stock Price Expected to Rise, HC Wainwright Analyst Says

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

Several other brokerages have also recently commented on VSTM. Royal Bank of Canada lowered their target price on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Guggenheim raised their price objective on Verastem from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Mizuho cut their target price on Verastem from $9.00 to $8.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Jefferies Financial Group began coverage on Verastem in a research report on Thursday, April 10th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Friday, April 18th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.33.

Verastem Stock Performance

VSTM opened at $7.17 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The business has a fifty day simple moving average of $6.36 and a 200 day simple moving average of $5.45. Verastem has a 1 year low of $2.10 and a 1 year high of $13.52. The company has a market capitalization of $369.18 million, a PE ratio of -2.25 and a beta of 0.85.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Barclays PLC increased its position in Verastem by 546.7% during the 3rd quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company’s stock worth $167,000 after purchasing an additional 47,094 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Verastem by 55.4% during the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 6,016 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Verastem by 152.8% during the fourth quarter. SG Americas Securities LLC now owns 36,515 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 22,071 shares in the last quarter. Aries Wealth Management lifted its stake in shares of Verastem by 23.3% in the 4th quarter. Aries Wealth Management now owns 26,415 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Verastem by 38.0% during the 4th quarter. Rhumbline Advisers now owns 37,629 shares of the biopharmaceutical company’s stock valued at $195,000 after acquiring an additional 10,352 shares in the last quarter. Institutional investors and hedge funds 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.