Verastem (VSTM) Given a $14.00 Price Target at Roth Capital

Verastem (NASDAQ:VSTM) has been assigned a $14.00 target price by investment analysts at Roth Capital in a report released on Friday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Roth Capital’s price target would suggest a potential upside of 152.25% from the stock’s previous close.

Several other research analysts have also recently issued reports on VSTM. BTIG Research started coverage on shares of Verastem in a report on Friday, July 13th. They set a “buy” rating and a $17.00 price target for the company. Zacks Investment Research raised shares of Verastem from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Friday, July 20th. BidaskClub cut shares of Verastem from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Seaport Global Securities set a $16.00 price target on shares of Verastem and gave the stock a “buy” rating in a report on Friday, July 27th. Finally, Cann reissued a “buy” rating and set a $16.00 price target on shares of Verastem in a report on Thursday, August 9th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.60.

NASDAQ VSTM traded down $0.17 during trading hours on Friday, hitting $5.55. 270,565 shares of the stock were exchanged, compared to its average volume of 2,758,917. The stock has a market capitalization of $374.58 million, a P/E ratio of -3.15 and a beta of 3.14. Verastem has a 12-month low of $2.77 and a 12-month high of $10.35. The company has a quick ratio of 7.70, a current ratio of 7.70 and a debt-to-equity ratio of 0.19.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.14. The firm had revenue of $15.51 million for the quarter. On average, equities research analysts expect that Verastem will post -1.64 earnings per share for the current fiscal year.

In related news, Director Michael Kauffman bought 4,000 shares of the company’s stock in a transaction on Friday, September 28th. The stock was bought at an average cost of $7.49 per share, with a total value of $29,960.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at approximately $29,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert Forrester bought 10,500 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was bought at an average cost of $7.00 per share, with a total value of $73,500.00. Following the completion of the acquisition, the chief executive officer now owns 209,234 shares of the company’s stock, valued at approximately $1,464,638. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 19,500 shares of company stock valued at $139,420. 6.51% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of VSTM. Northern Trust Corp increased its holdings in Verastem by 42.8% in the first quarter. Northern Trust Corp now owns 94,992 shares of the biopharmaceutical company’s stock valued at $284,000 after buying an additional 28,473 shares in the last quarter. BlackRock Inc. increased its holdings in Verastem by 7.2% in the first quarter. BlackRock Inc. now owns 1,040,059 shares of the biopharmaceutical company’s stock valued at $3,100,000 after buying an additional 70,138 shares in the last quarter. Creative Planning increased its holdings in Verastem by 30.1% in the second quarter. Creative Planning now owns 58,550 shares of the biopharmaceutical company’s stock valued at $403,000 after buying an additional 13,550 shares in the last quarter. Barrett Asset Management LLC purchased a new position in Verastem in the second quarter valued at about $344,000. Finally, SeaCrest Wealth Management LLC increased its holdings in Verastem by 112.6% in the second quarter. SeaCrest Wealth Management LLC now owns 37,104 shares of the biopharmaceutical company’s stock valued at $255,000 after buying an additional 19,651 shares in the last quarter. 43.40% of the stock is owned by institutional investors.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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