Verastem (NASDAQ:VSTM) Price Target Raised to $16.00

Verastem (NASDAQ:VSTM) had its target price hoisted by Royal Bank of Canada from $13.00 to $16.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

VSTM has been the topic of a number of other research reports. Mizuho lifted their price target on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a report on Friday, October 18th. StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Guggenheim initiated coverage on Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Verastem in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Verastem Trading Down 9.8 %

Shares of NASDAQ:VSTM opened at $5.90 on Tuesday. The stock has a market capitalization of $262.59 million, a price-to-earnings ratio of -1.85 and a beta of 0.24. Verastem has a 1-year low of $2.10 and a 1-year high of $14.22. The company has a 50 day moving average price of $4.64 and a 200 day moving average price of $3.46. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. On average, research analysts anticipate that Verastem will post -3.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VSTM. JPMorgan Chase & Co. boosted its holdings in Verastem by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 6,016 shares in the last quarter. Barclays PLC lifted its position in shares of 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 during the last quarter. Geode Capital Management LLC boosted its stake in Verastem by 67.6% during the 3rd quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock valued at $2,663,000 after purchasing an additional 359,060 shares during the period. XTX Topco Ltd acquired a new stake in Verastem in the 3rd quarter valued at approximately $112,000. Finally, State Street Corp increased its position in Verastem by 18.2% in the 3rd quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock worth $1,269,000 after buying an additional 65,265 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

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.