HC Wainwright Increases Verastem (NASDAQ:VSTM) Price Target to $14.00

Verastem (NASDAQ:VSTM) had its price objective boosted by analysts at HC Wainwright from $10.00 to $14.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 95.26% from the stock’s previous close.

Several other brokerages have also issued reports on VSTM. StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a report on Friday, April 18th. Jefferies Financial Group assumed coverage on Verastem in a research report on Thursday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. B. Riley increased their price objective on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a report on Friday, January 31st. Guggenheim upped their price target on shares of Verastem from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, March 24th. Finally, Mizuho lowered their price objective on shares of Verastem from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Verastem Price Performance

VSTM stock opened at $7.17 on Friday. The business has a 50 day moving average price of $6.36 and a 200 day moving average price of $5.46. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. The stock has a market cap of $369.18 million, a price-to-earnings ratio of -2.25 and a beta of 0.85. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $13.52.

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 the consensus estimate of ($0.76) by ($0.57). Equities research analysts anticipate that Verastem will post -3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its position in Verastem by 61.9% during the 1st quarter. Deutsche Bank AG now owns 39,079 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 14,941 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Verastem by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 117,784 shares of the biopharmaceutical company’s stock worth $710,000 after acquiring an additional 4,183 shares during the period. Jefferies Financial Group Inc. purchased a new position in Verastem in the first quarter worth $1,631,000. Rhumbline Advisers lifted its holdings in Verastem by 32.8% in the first quarter. Rhumbline Advisers now owns 49,959 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 12,330 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Verastem during the 4th quarter worth $3,742,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.