Verastem (NASDAQ:VSTM) Given New $20.00 Price Target at BTIG Research

Verastem (NASDAQ:VSTM) had its price target lifted by investment analysts at BTIG Research from $13.00 to $20.00 in a note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s price target would indicate a potential upside of 444.96% from the company’s current price.

Other equities analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Verastem in a research report on Thursday, December 19th. StockNews.com lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Guggenheim assumed coverage on shares of Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price target on the stock. Mizuho increased their price objective 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, Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Verastem Stock Down 1.1 %

Shares of VSTM stock opened at $3.67 on Tuesday. 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 stock has a market cap of $163.34 million, a P/E ratio of -1.15 and a beta of 0.22. Verastem has a 12 month low of $2.10 and a 12 month high of $14.22. The company has a 50 day simple moving average of $4.21 and a two-hundred day simple moving average of $3.30.

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

Institutional Trading of Verastem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC bought a new stake in shares of Verastem during the third quarter worth $41,000. SG Americas Securities LLC purchased a new stake in shares of Verastem in the 3rd quarter worth $43,000. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 6,016 shares during the period. Apollon Wealth Management LLC grew its holdings in Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Verastem during the second quarter valued at approximately $82,000. 88.37% of the stock is 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.