Verastem (NASDAQ:VSTM) Given New $18.00 Price Target at BTIG Research

Verastem (NASDAQ:VSTM) had its price objective lowered by investment analysts at BTIG Research from $19.00 to $18.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s price objective points to a potential upside of 218.02% from the company’s previous close.

VSTM has been the topic of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 price target (down from $19.00) on shares of Verastem in a research note on Monday, March 30th. Wall Street Zen cut Verastem from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Mizuho set a $18.00 price target on Verastem in a research note on Thursday, February 19th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Friday, April 10th. Finally, Weiss Ratings lowered shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and a consensus target price of $16.40.

Verastem Price Performance

VSTM opened at $5.66 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.07 and a current ratio of 3.09. Verastem has a 52-week low of $4.01 and a 52-week high of $11.24. The stock has a market capitalization of $497.17 million, a PE ratio of -1.77 and a beta of 0.34. The stock’s 50 day moving average price is $5.74 and its 200-day moving average price is $7.14.

Verastem (NASDAQ:VSTM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.46). The business had revenue of $18.67 million for the quarter, compared to analysts’ expectations of $21.43 million. On average, equities research analysts predict that Verastem will post -1.71 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Polar Capital Holdings Plc increased its holdings in shares of Verastem by 270.7% in the 4th quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock worth $30,302,000 after purchasing an additional 2,866,350 shares in the last quarter. AIGH Capital Management LLC bought a new stake in shares of Verastem in the 1st quarter worth $10,600,000. Farallon Capital Management LLC bought a new stake in shares of Verastem in the 4th quarter worth $15,440,000. SymBiosis Capital Partners LLC bought a new stake in shares of Verastem in the 4th quarter worth $15,440,000. Finally, Armistice Capital LLC increased its holdings in shares of Verastem by 68.7% in the 4th quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock worth $27,298,000 after purchasing an additional 1,440,000 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Company Profile

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.