BTIG Research Issues Positive Forecast for Verastem (NASDAQ:VSTM) Stock Price

Verastem (NASDAQ:VSTM) had its price target lifted by research analysts at BTIG Research from $13.00 to $20.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s target price suggests a potential upside of 286.85% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Guggenheim assumed coverage on Verastem in a research note on Monday, September 30th. They issued a “buy” rating and a $13.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Verastem in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Verastem in a research report on Thursday, December 19th. StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Verastem Stock Up 40.9 %

Shares of NASDAQ VSTM opened at $5.17 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. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The company has a market cap of $230.10 million, a P/E ratio of -1.62 and a beta of 0.22. The stock has a fifty day moving average price of $4.28 and a 200 day moving average price of $3.33.

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

Institutional Investors Weigh In On Verastem

A number of institutional investors have recently modified their holdings of VSTM. FMR LLC acquired a new stake in Verastem in the third quarter worth $41,000. SG Americas Securities LLC bought a new position in shares of Verastem during the third quarter worth about $43,000. JPMorgan Chase & Co. increased its holdings in shares of Verastem by 55.4% in the 3rd 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 lifted its position in Verastem by 104.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 10,457 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Verastem during the 2nd quarter valued at about $82,000. Institutional investors 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.