Verastem (VSTM) Price Target Lowered to $6.00 at Raymond James

Verastem (NASDAQ:VSTM) had its price target cut by Raymond James from $12.00 to $6.00 in a report issued on Thursday. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also weighed in on VSTM. Zacks Investment Research raised shares of Verastem from a hold rating to a strong-buy rating and set a $4.00 target price for the company in a research note on Saturday, January 19th. HC Wainwright reduced their target price on shares of Verastem from $13.00 to $10.00 and set a buy rating for the company in a research note on Thursday. BidaskClub lowered shares of Verastem from a sell rating to a strong sell rating in a research note on Wednesday, January 16th. Finally, ValuEngine lowered shares of Verastem from a buy rating to a hold rating in a research note on Monday, December 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $12.97.

NASDAQ VSTM traded up $0.02 on Thursday, reaching $3.19. The company had a trading volume of 43,856 shares, compared to its average volume of 2,478,497. The firm has a market cap of $233.92 million, a PE ratio of -2.33 and a beta of 3.04. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.20. Verastem has a 1-year low of $2.61 and a 1-year high of $10.35.



Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.23. The company had revenue of $1.21 million during the quarter, compared to analyst estimates of $5.56 million. Equities research analysts forecast that Verastem will post -1.95 EPS for the current year.

Several institutional investors have recently bought and sold shares of VSTM. Cohen Capital Management Inc. raised its holdings in shares of Verastem by 1.6% in the 4th quarter. Cohen Capital Management Inc. now owns 253,560 shares of the biopharmaceutical company’s stock valued at $852,000 after purchasing an additional 3,960 shares during the period. Advisory Services Network LLC raised its holdings in shares of Verastem by 16.0% in the 4th quarter. Advisory Services Network LLC now owns 32,375 shares of the biopharmaceutical company’s stock valued at $109,000 after purchasing an additional 4,475 shares during the period. Kalos Management Inc. raised its holdings in shares of Verastem by 30.0% in the 4th quarter. Kalos Management Inc. now owns 29,250 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 6,750 shares during the period. MML Investors Services LLC raised its holdings in shares of Verastem by 70.0% in the 4th quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,000 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Verastem by 8.1% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 126,890 shares of the biopharmaceutical company’s stock valued at $920,000 after purchasing an additional 9,466 shares during the period. Institutional investors own 59.21% of the company’s stock.

Verastem Company Profile

Verastem, Inc, operating as Verastem Oncology, is a biopharmaceutical company focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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