Verastem (NASDAQ:VSTM) Given New $14.00 Price Target at Guggenheim

Verastem (NASDAQ:VSTM) had its price target increased by Guggenheim from $13.00 to $14.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also recently issued reports on VSTM. 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 research note on Friday. Mizuho increased their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. BTIG Research boosted their price objective on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. HC Wainwright lifted their price target on Verastem from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Monday. Finally, B. Riley upped 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. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.88.

Verastem Stock Performance

Verastem stock opened at $6.88 on Monday. 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 firm has a market capitalization of $306.21 million, a P/E ratio of -2.16 and a beta of 0.60. Verastem has a 52-week low of $2.10 and a 52-week high of $13.52. The stock has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $4.67.

Verastem (NASDAQ:VSTM) last released its 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). As a group, analysts anticipate that Verastem will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dan Paterson sold 8,568 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was 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 owns 347,581 shares of the company’s stock, valued at $1,821,324.44. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 9,960 shares of company stock valued at $53,498 over the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in shares of Verastem by 51.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 1,698 shares in the last quarter. ProShare Advisors LLC bought a new position in Verastem in the 4th quarter worth about $56,000. Voya Investment Management LLC purchased a new stake in Verastem in the fourth quarter valued at approximately $59,000. Sherbrooke Park Advisers LLC purchased a new position in Verastem in the fourth quarter worth $61,000. Finally, FMR LLC bought a new position in shares of Verastem during the 3rd quarter valued at about $41,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.