Guggenheim Boosts Verastem (NASDAQ:VSTM) Price Target to $14.00

Verastem (NASDAQ:VSTM) had its price target increased by equities researchers at Guggenheim from $13.00 to $14.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price target would indicate a potential upside of 113.09% from the stock’s previous close.

A number of other research analysts have also commented on VSTM. Mizuho boosted their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. HC Wainwright upped their target price on Verastem from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday. BTIG Research raised their price target on Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. B. Riley boosted their price objective on Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada dropped their target price on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.88.

Verastem Stock Performance

NASDAQ:VSTM opened at $6.57 on Monday. The business’s fifty day moving average is $6.08 and its 200 day moving average is $4.70. The firm has a market cap of $292.41 million, a price-to-earnings ratio of -2.06 and a beta of 0.60. 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 has a 52-week low of $2.10 and a 52-week high of $13.52.

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

Insider Buying and Selling at Verastem

In other Verastem news, CEO Dan Paterson sold 8,568 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $5.24, for a total value of $44,896.32. Following the transaction, the chief executive officer now owns 347,581 shares in the company, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 9,960 shares of company stock worth $53,498. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Verastem

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 1,698 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Verastem in the fourth quarter worth $56,000. Voya Investment Management LLC bought a new stake in Verastem in the fourth quarter valued at $59,000. Sherbrooke Park Advisers LLC purchased a new position in Verastem during the 4th quarter valued at $61,000. Finally, FMR LLC bought a new position in Verastem in the 3rd quarter worth $41,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.