Verastem (NASDAQ:VSTM) Price Target Raised to $20.00 at BTIG Research

Verastem (NASDAQ:VSTM) had its price target upped by analysts at BTIG Research from $13.00 to $20.00 in a report released on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s price objective points to a potential upside of 444.96% from the stock’s current price.

A number of other brokerages also recently issued reports on VSTM. Mizuho lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Verastem in a report on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Verastem in a research note on Friday, October 18th. StockNews.com cut Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, Guggenheim initiated coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Verastem presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Verastem Price Performance

VSTM opened at $3.67 on Tuesday. The firm has a market cap of $163.34 million, a PE ratio of -1.15 and a beta of 0.22. The stock has a 50-day moving average price of $4.21 and a 200-day moving average price of $3.30. Verastem has a 1 year low of $2.10 and a 1 year high of $14.22. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.11. Sell-side analysts predict that Verastem will post -3.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

A number of hedge funds have recently added to or reduced their stakes in VSTM. Stonepine Capital Management LLC bought a new position in shares of Verastem in the third quarter worth approximately $3,918,000. Geode Capital Management LLC raised 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 buying an additional 359,060 shares during the last quarter. State Street Corp lifted its holdings in shares of Verastem by 18.2% during the 3rd quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock valued at $1,269,000 after buying an additional 65,265 shares during the period. Nantahala Capital Management LLC bought a new position in shares of Verastem during the 2nd quarter valued at $1,192,000. Finally, Walleye Capital LLC boosted its stake in shares of Verastem by 493.7% in the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock worth $646,000 after buying an additional 179,725 shares during the last quarter. Institutional investors and hedge funds 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.