Verastem (NASDAQ:VSTM) Given New $10.00 Price Target at HC Wainwright

Verastem (NASDAQ:VSTM) had its price objective lifted by HC Wainwright from $7.00 to $10.00 in a report issued on Monday, MarketBeat reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

VSTM has been the subject of a number of other research reports. 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. Guggenheim reiterated a “buy” rating on shares of Verastem in a report on Friday, January 24th. Royal Bank of Canada reduced their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday. B. Riley upped their target price on Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Mizuho lifted their price target on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.88.

Verastem Price Performance

Shares of NASDAQ:VSTM opened at $6.88 on Monday. The company’s fifty day moving average is $6.04 and its two-hundred day moving average is $4.67. The company has a market cap of $306.21 million, a P/E ratio of -2.16 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 quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77.

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

Insiders Place Their Bets

In other news, CEO Dan Paterson sold 8,568 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $5.24, for a total value of $44,896.32. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 9,960 shares of company stock valued at $53,498 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new position in shares of Verastem during the 4th quarter worth about $20,400,000. Nantahala Capital Management LLC increased its position in Verastem by 0.5% in the 4th quarter. Nantahala Capital Management LLC now owns 3,752,583 shares of the biopharmaceutical company’s stock worth $19,401,000 after buying an additional 19,250 shares during the period. AIGH Capital Management LLC acquired a new position in shares of Verastem during the fourth quarter worth approximately $13,778,000. BVF Inc. IL boosted its position 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 acquiring an additional 415,249 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in shares of Verastem in the third quarter valued at approximately $3,918,000. 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.