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

Verastem (NASDAQ:VSTM) had its target price lifted by research analysts at Mizuho from $7.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Mizuho’s price objective indicates a potential upside of 114.80% from the company’s current price.

A number of other research analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Verastem in a research report on Friday, October 18th. StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Guggenheim initiated coverage on shares of Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Verastem Stock Down 5.6 %

Shares of VSTM opened at $4.19 on Thursday. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The business’s 50 day moving average is $4.10 and its 200 day moving average is $3.30. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $186.48 million, a PE ratio of -1.31 and a beta of 0.22.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.11. Research analysts expect that Verastem will post -3.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verastem

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC bought a new position in Verastem in the 3rd quarter valued at $41,000. SG Americas Securities LLC bought a new position in shares of Verastem in the third quarter worth about $43,000. Apollon Wealth Management LLC increased its stake in Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after buying an additional 10,457 shares during the period. Acadian Asset Management LLC bought a new position in Verastem in the 2nd quarter worth about $82,000. Finally, Rhumbline Advisers increased its position in shares of Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 28,119 shares during the period. 88.37% of the stock is currently 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.