HC Wainwright Raises Verastem (NASDAQ:VSTM) Price Target to $10.00

Verastem (NASDAQ:VSTM - Free Report) had its price target lifted by HC Wainwright from $7.00 to $10.00 in a research report report published on Monday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the biopharmaceutical company's stock. HC Wainwright also issued estimates for Verastem's Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.74) EPS, Q3 2025 earnings at ($0.28) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.62) EPS, FY2026 earnings at ($1.10) EPS and FY2027 earnings at ($0.33) EPS.

A number of other research analysts also recently commented on the company. B. Riley increased their price target on Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a report on Friday, January 31st. Guggenheim restated a "buy" rating on shares of Verastem in a research note on Friday, January 24th. Royal Bank of Canada reduced their price target on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Mizuho boosted their price objective on Verastem from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Finally, BTIG Research increased their target price on Verastem from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, December 31st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.88.

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Verastem Stock Down 8.0 %

Verastem stock traded down $0.54 during midday trading on Monday, hitting $6.19. 810,958 shares of the company were exchanged, compared to its average volume of 927,347. The company has a market cap of $318.70 million, a PE ratio of -1.94 and a beta of 0.60. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $13.52. The company's fifty day moving average price is $6.14 and its 200-day moving average price is $4.76. 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 - Get Free Report) last posted 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). On average, research analysts predict that Verastem will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling at Verastem

In other Verastem news, CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction 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 sale, the chief executive officer now owns 347,581 shares of the company's stock, valued at $1,821,324.44. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 9,960 shares of company stock worth $53,498. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verastem

Several large investors have recently bought and sold shares of VSTM. Walleye Capital LLC boosted 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 buying an additional 179,725 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Verastem by 67.6% in the 3rd quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company's stock valued at $2,663,000 after acquiring an additional 359,060 shares during the last quarter. Rhumbline Advisers boosted 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 purchasing an additional 10,352 shares in the last quarter. Barclays PLC grew its stake in shares of Verastem by 546.7% in the 3rd quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company's stock worth $167,000 after purchasing an additional 47,094 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Verastem in the 3rd quarter worth approximately $112,000. Institutional investors and hedge funds own 88.37% of the company's stock.

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.