Verastem (NASDAQ:VSTM) Price Target Raised to $9.00

Verastem (NASDAQ:VSTM) had its target price raised by Mizuho from $7.00 to $9.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

VSTM has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Verastem in a research note on Thursday. StockNews.com cut Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Guggenheim initiated coverage on shares of Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Verastem in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Verastem Price Performance

Shares of NASDAQ:VSTM opened at $4.19 on Thursday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. The firm has a market cap of $186.48 million, a price-to-earnings ratio of -1.31 and a beta of 0.22. The business has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $3.30. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Apollon Wealth Management LLC increased its stake in Verastem by 104.6% in the 3rd 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. Stifel Financial Corp grew its position in shares of Verastem by 62.3% during the third quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 11,642 shares in the last quarter. FMR LLC bought a new stake in Verastem during the 3rd quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new position in Verastem in the 3rd quarter worth approximately $43,000. Finally, Acadian Asset Management LLC bought a new position in Verastem in the 2nd quarter worth approximately $82,000. 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.