Jefferies Financial Group Issues Pessimistic Forecast for Verastem (NASDAQ:VSTM) Stock Price

Verastem (NASDAQ:VSTM) had its price target cut by stock analysts at Jefferies Financial Group from $15.00 to $8.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 85.83% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. BTIG Research lowered their price target on shares of Verastem from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Mizuho dropped their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Wall Street Zen cut Verastem from a “hold” rating to a “sell” rating in a report on Saturday. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a research report on Friday, May 8th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Verastem in a research report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.20.

Verastem Stock Performance

Shares of VSTM stock traded up $0.06 on Tuesday, hitting $4.30. The company had a trading volume of 452,962 shares, compared to its average volume of 2,101,069. The firm has a market cap of $378.28 million, a P/E ratio of -1.59 and a beta of 0.27. Verastem has a twelve month low of $3.55 and a twelve month high of $11.24. The company has a 50-day moving average price of $4.81 and a 200-day moving average price of $6.06. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89.

Institutional Investors Weigh In On Verastem

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Verastem during the second quarter worth about $49,000. Nebula Research & Development LLC acquired a new position in Verastem in the 2nd quarter valued at about $53,000. The Manufacturers Life Insurance Company increased its holdings in shares of Verastem by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,440 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 4,496 shares during the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

About Verastem

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.