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

Verastem (NASDAQ:VSTM) had its price objective increased by stock analysts at Guggenheim from $13.00 to $14.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s target price would suggest a potential upside of 101.64% from the company’s current price.

VSTM has been the subject of a number of other reports. Royal Bank of Canada decreased their price target on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Friday. Mizuho increased their price target on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. B. Riley increased their price target on Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, January 31st. HC Wainwright increased their price target on Verastem from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Finally, BTIG Research raised their target price on Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.88.

Verastem Stock Performance

Verastem stock opened at $6.94 on Monday. The business’s 50-day moving average price is $6.01 and its two-hundred day moving average price is $4.64. Verastem has a 12-month low of $2.10 and a 12-month high of $13.52. The stock has a market cap of $309.01 million, a PE ratio of -2.19 and a beta of 0.60. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last announced its 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). As a group, analysts expect that Verastem will post -3.02 earnings per share for the current fiscal year.

Insider Activity at Verastem

In other Verastem news, CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the transaction, the chief executive officer now owns 347,581 shares of the company’s stock, valued at $1,821,324.44. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 9,988 shares of company stock valued at $53,608. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verastem

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in shares of Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 1,698 shares in the last quarter. FMR LLC bought a new position in shares of Verastem during the 3rd quarter worth approximately $41,000. JPMorgan Chase & Co. lifted its position in shares of Verastem by 55.4% during the 3rd 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 in the last quarter. ProShare Advisors LLC bought a new position in shares of Verastem during the 4th quarter worth approximately $56,000. Finally, Voya Investment Management LLC bought a new stake in shares of Verastem in the 4th quarter worth approximately $59,000. 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.