Verastem (NASDAQ:VSTM) Stock Price Expected to Rise, HC Wainwright Analyst Says

Verastem (NASDAQ:VSTM - Get Free Report) had its price target lifted by research analysts at HC Wainwright from $10.00 to $14.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. HC Wainwright's target price points to a potential upside of 96.35% from the company's current price.

Several other brokerages have also weighed in on VSTM. Guggenheim boosted their price objective on Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, March 24th. Mizuho reduced their price objective on Verastem from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their target price on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. B. Riley raised their price target on shares of Verastem from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded shares of Verastem from a "hold" rating to a "sell" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.33.

Verastem Stock Down 4.4%

Shares of NASDAQ:VSTM traded down $0.33 during trading on Friday, hitting $7.13. The company's stock had a trading volume of 2,239,575 shares, compared to its average volume of 1,181,728. The company has a market capitalization of $367.12 million, a PE ratio of -2.24 and a beta of 0.85. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $13.52. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. The stock's 50-day moving average price is $6.39 and its two-hundred day moving average price is $5.52.

Verastem (NASDAQ:VSTM - Get Free Report) last released its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.24). As a group, sell-side analysts expect that Verastem will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Verastem

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of 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 in the last quarter. JPMorgan Chase & Co. grew its position 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 buying an additional 6,016 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Verastem during the 4th quarter valued at $56,000. Voya Investment Management LLC acquired a new position in shares of Verastem in the 4th quarter worth $59,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Verastem during the fourth quarter worth $61,000. 88.37% of the stock is owned by 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.