Verastem (NASDAQ:VSTM) Stock Price Expected to Rise, Mizuho Analyst Says

Verastem (NASDAQ:VSTM - Get Free Report) had its price target lifted by equities researchers at Mizuho from $7.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the biopharmaceutical company's stock. Mizuho's target price would indicate a potential upside of 102.70% from the stock's previous close.

A number of other research firms also recently commented on VSTM. HC Wainwright reiterated a "buy" rating and set a $7.00 target price on shares of Verastem in a research report on Thursday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Verastem in a research report on Friday, October 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 price objective on shares of Verastem in a research note on Friday, October 18th. StockNews.com downgraded shares of Verastem from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Finally, Guggenheim began coverage on shares of Verastem in a research report on Monday, September 30th. They issued a "buy" rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Verastem Price Performance

Shares of VSTM traded up $0.18 during mid-day trading on Thursday, hitting $4.44. The company's stock had a trading volume of 471,124 shares, compared to its average volume of 627,533. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem has a 1-year low of $2.10 and a 1-year high of $14.22. The firm has a market capitalization of $197.61 million, a P/E ratio of -1.39 and a beta of 0.22. The firm has a 50-day simple moving average of $4.10 and a 200 day simple moving average of $3.30.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.11. Analysts predict that Verastem will post -3.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Verastem

Institutional investors have recently bought and sold shares of the business. Stonepine Capital Management LLC acquired a new stake in shares of Verastem in the third quarter valued at about $3,918,000. Nantahala Capital Management LLC purchased a new position in Verastem in the 2nd quarter worth approximately $1,192,000. Geode Capital Management LLC grew its position in 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 acquiring an additional 359,060 shares in the last quarter. Walleye Capital LLC raised its stake in shares of 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 period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Verastem during the second quarter worth $203,000. 88.37% of the stock is currently 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.