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

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

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada cut their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Guggenheim boosted their price objective on shares of Verastem from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, March 24th. Jefferies Financial Group initiated coverage on shares of Verastem in a report on Thursday, April 10th. They set a “buy” rating and a $15.00 target price for the company. B. Riley lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Mizuho reduced their price objective on shares of Verastem from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Verastem presently has a consensus rating of “Moderate Buy” and an average price target of $14.33.

Verastem Stock Up 3.3 %

Verastem stock opened at $7.17 on Friday. Verastem has a twelve month low of $2.10 and a twelve month high of $13.52. 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 company has a 50 day moving average of $6.36 and a 200-day moving average of $5.45. The stock has a market capitalization of $369.18 million, a PE ratio of -2.25 and a beta of 0.85.

Verastem (NASDAQ:VSTM) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.57). On average, equities research analysts anticipate that Verastem will post -3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Verastem

A number of hedge funds and other institutional investors have recently bought and sold shares of VSTM. Balyasny Asset Management L.P. acquired a new stake in shares of Verastem in the fourth quarter valued at approximately $20,400,000. Nantahala Capital Management LLC lifted its holdings in Verastem by 0.5% during the 4th quarter. Nantahala Capital Management LLC now owns 3,752,583 shares of the biopharmaceutical company’s stock valued at $19,401,000 after purchasing an additional 19,250 shares during the last quarter. AIGH Capital Management LLC bought a new position in Verastem during the fourth quarter worth $13,778,000. BVF Inc. IL increased its holdings in shares of Verastem by 24.6% in the fourth quarter. BVF Inc. IL now owns 2,100,468 shares of the biopharmaceutical company’s stock valued at $10,859,000 after purchasing an additional 415,249 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Verastem by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 948,790 shares of the biopharmaceutical company’s stock valued at $4,906,000 after purchasing an additional 58,191 shares during the period. 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.