HC Wainwright Raises Verastem (NASDAQ:VSTM) Price Target to $10.00

Verastem (NASDAQ:VSTM) had its target price upped by analysts at HC Wainwright from $7.00 to $10.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 52.21% from the stock’s previous close.

A number of other research analysts have also recently weighed in on VSTM. Royal Bank of Canada reduced their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. B. Riley lifted their price objective on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, January 31st. BTIG Research increased their target price on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. Mizuho raised their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Guggenheim reiterated a “buy” rating on shares of Verastem in a research note on Friday, January 24th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Verastem currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.88.

Verastem Stock Down 4.5 %

VSTM opened at $6.57 on Monday. The stock has a market capitalization of $292.41 million, a price-to-earnings ratio of -2.06 and a beta of 0.60. Verastem has a 12 month low of $2.10 and a 12 month high of $13.52. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The business has a 50-day moving average of $6.08 and a two-hundred day moving average of $4.70.

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

Insider Transactions at Verastem

In related news, CEO Dan Paterson sold 8,568 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the sale, the chief executive officer now directly owns 347,581 shares of the company’s stock, valued at approximately $1,821,324.44. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 9,960 shares of company stock valued at $53,498. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Verastem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSTM. Balyasny Asset Management L.P. acquired a new position in shares of Verastem in the fourth quarter worth about $20,400,000. AIGH Capital Management LLC purchased a new stake in Verastem during the 4th quarter worth approximately $13,778,000. Stonepine Capital Management LLC acquired a new position in shares of Verastem in the 3rd quarter valued at approximately $3,918,000. Rosalind Advisors Inc. purchased a new position in shares of Verastem during the 4th quarter valued at approximately $4,653,000. Finally, Marshall Wace LLP acquired a new stake in shares of Verastem during the fourth quarter worth approximately $4,103,000. 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.