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

Verastem (NASDAQ:VSTM) had its price target hoisted by HC Wainwright from $7.00 to $10.00 in a research note published on Monday, Marketbeat Ratings reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also commented on the stock. BTIG Research lifted their price target on shares of Verastem from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Royal Bank of Canada lowered their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Friday. B. Riley raised their price target on Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Mizuho boosted 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 report on Friday, January 24th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and an average target price of $13.88.

Verastem Trading Up 3.5 %

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

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

Insider Activity

In related news, CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $5.24, for a total transaction of $44,896.32. Following the transaction, the chief executive officer now directly owns 347,581 shares of the company’s stock, valued at $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 is available at the SEC website. In the last ninety days, insiders have sold 9,960 shares of company stock worth $53,498. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Verastem

A number of institutional investors and hedge funds have recently bought and sold shares of VSTM. Walleye Capital LLC lifted its stake in Verastem by 493.7% during the third quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock valued at $646,000 after purchasing an additional 179,725 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Verastem by 67.6% in the third quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock valued at $2,663,000 after buying an additional 359,060 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Verastem by 38.0% during the 4th quarter. Rhumbline Advisers now owns 37,629 shares of the biopharmaceutical company’s stock valued at $195,000 after acquiring an additional 10,352 shares during the last quarter. Barclays PLC boosted its stake in shares of Verastem by 546.7% during the 3rd quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company’s stock worth $167,000 after acquiring an additional 47,094 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Verastem in the 3rd quarter worth $112,000. 88.37% of the stock is owned by institutional investors and hedge funds.

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.