Verastem (NASDAQ:VSTM) Price Target Raised to $20.00 at BTIG Research

Verastem (NASDAQ:VSTM - Free Report) had its price objective increased by BTIG Research from $13.00 to $20.00 in a report published on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the biopharmaceutical company's stock.

VSTM has been the subject of a number of other reports. Guggenheim started coverage on shares of Verastem in a research note on Monday, September 30th. They issued a "buy" rating and a $13.00 target price for the company. StockNews.com downgraded Verastem from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Mizuho lifted their target price on Verastem from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Verastem in a research note on Friday, October 18th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 price objective on shares of Verastem in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.00.

Verastem Price Performance

Shares of VSTM traded up $1.50 during trading hours on Tuesday, hitting $5.17. The stock had a trading volume of 15,168,073 shares, compared to its average volume of 707,220. Verastem has a 52 week low of $2.10 and a 52 week high of $14.22. The stock has a market capitalization of $230.10 million, a price-to-earnings ratio of -1.62 and a beta of 0.22. The company's fifty day moving average is $4.21 and its two-hundred day moving average is $3.30. 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 quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.11. On average, analysts anticipate that Verastem will post -3.16 EPS for the current year.

Institutional Investors Weigh In On Verastem

Several hedge funds have recently bought and sold shares of VSTM. FMR LLC acquired a new stake in shares of Verastem during the third quarter worth about $41,000. SG Americas Securities LLC acquired a new stake in Verastem during the 3rd quarter worth approximately $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 valued at $50,000 after buying an additional 6,016 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company's stock valued at $61,000 after buying an additional 10,457 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Verastem during the second quarter worth $82,000. 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.