Mizuho Has Lowered Expectations for Verastem (NASDAQ:VSTM) Stock Price

Verastem (NASDAQ:VSTM) had its price target cut by equities research analysts at Mizuho from $16.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Mizuho’s target price would suggest a potential upside of 224.07% from the stock’s current price.

A number of other brokerages have also recently weighed in on VSTM. Weiss Ratings cut Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Alliance Global Partners reissued a “buy” rating on shares of Verastem in a research note on Friday, May 8th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Verastem in a research note on Friday, April 10th. Jefferies Financial Group reissued a “buy” rating and set a $15.00 price objective (down from $19.00) on shares of Verastem in a research note on Monday, March 30th. Finally, Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two research 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.60.

Verastem Trading Down 8.3%

NASDAQ:VSTM opened at $4.32 on Thursday. The stock has a fifty day moving average price of $5.61 and a two-hundred day moving average price of $7.01. The stock has a market capitalization of $379.60 million, a price-to-earnings ratio of -1.60 and a beta of 0.34. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. Verastem has a 1 year low of $4.01 and a 1 year high of $11.24.

Verastem (NASDAQ:VSTM) last issued its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). Verastem had a negative net margin of 391.17% and a negative return on equity of 486.40%. The company had revenue of $17.54 million during the quarter, compared to analysts’ expectations of $16.85 million. As a group, sell-side analysts anticipate that Verastem will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position 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 during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 4,496 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Verastem during the 2nd quarter valued at approximately $49,000. DRW Securities LLC purchased a new position in shares of Verastem during the 4th quarter valued at approximately $93,000. Finally, Nebula Research & Development LLC purchased a new position in shares of Verastem during the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors 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.