Jefferies Financial Group Has Lowered Expectations for Verastem (NASDAQ:VSTM) Stock Price

Verastem (NASDAQ:VSTM) had its price objective cut by equities research analysts at Jefferies Financial Group from $15.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 85.83% from the company’s current price.

A number of other equities research analysts have also issued reports on VSTM. Mizuho reduced their price target on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. BTIG Research decreased their price target on shares of Verastem from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings cut shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Verastem in a report on Friday, April 10th. Finally, Wall Street Zen downgraded Verastem from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Verastem presently has an average rating of “Moderate Buy” and an average price target of $14.20.

Verastem Trading Up 1.3%

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

Institutional Trading of Verastem

A number of large investors have recently bought and sold shares of VSTM. Seven Fleet Capital Management LP raised its holdings in shares of Verastem by 715.1% in the first quarter. Seven Fleet Capital Management LP now owns 123,400 shares of the biopharmaceutical company’s stock valued at $654,000 after buying an additional 108,260 shares during the last quarter. Bank of America Corp DE raised its stake in Verastem by 31.6% during the 1st quarter. Bank of America Corp DE now owns 416,985 shares of the biopharmaceutical company’s stock valued at $2,210,000 after acquiring an additional 100,123 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in Verastem during the 1st quarter worth approximately $377,000. Royal Bank of Canada lifted its position in Verastem by 15.3% during the 1st quarter. Royal Bank of Canada now owns 110,729 shares of the biopharmaceutical company’s stock worth $587,000 after acquiring an additional 14,683 shares during the period. Finally, Exome Asset Management LLC grew its stake in shares of Verastem by 58.5% in the 1st quarter. Exome Asset Management LLC now owns 636,700 shares of the biopharmaceutical company’s stock valued at $3,375,000 after purchasing an additional 234,957 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.