Mizuho Has Lowered Expectations for Verastem (NASDAQ:VSTM) Stock Price

Verastem (NASDAQ:VSTM - Get Free Report) had its price target decreased by Mizuho from $9.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the biopharmaceutical company's stock. Mizuho's price objective would suggest a potential upside of 69.85% from the company's current price.

Several other research firms also recently issued reports on VSTM. HC Wainwright boosted their price objective on shares of Verastem from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, March 24th. StockNews.com upgraded Verastem from a "sell" rating to a "hold" rating in a research note on Monday, March 24th. Royal Bank of Canada decreased their price objective on Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. BTIG Research boosted their price objective on Verastem from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, December 31st. Finally, Guggenheim raised their target price on Verastem from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have issued 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 $13.89.

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Verastem Stock Performance

NASDAQ:VSTM traded up $0.07 during midday trading on Wednesday, reaching $4.71. The stock had a trading volume of 189,866 shares, compared to its average volume of 962,619. The stock has a market capitalization of $242.50 million, a P/E ratio of -1.48 and a beta of 0.57. Verastem has a 1-year low of $2.10 and a 1-year 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. The firm's fifty day simple moving average is $6.01 and its 200-day simple moving average is $4.98.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.57). On average, equities research analysts forecast that Verastem will post -3.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently made changes to their positions in the company. Balyasny Asset Management L.P. acquired a new position in Verastem in the fourth quarter worth $20,400,000. AIGH Capital Management LLC bought a new stake in shares of Verastem during the fourth quarter worth approximately $13,778,000. Rosalind Advisors Inc. bought a new position in Verastem in the fourth quarter valued at approximately $4,653,000. Marshall Wace LLP acquired a new stake in Verastem during the 4th quarter worth $4,103,000. Finally, Woodline Partners LP bought a new stake in shares of Verastem during the 4th quarter valued at $3,742,000. Institutional investors and hedge funds own 88.37% of the company's stock.

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.