Verastem (NASDAQ:VSTM) Raised to Strong-Buy at BTIG Research

Verastem (NASDAQ:VSTM) was upgraded by stock analysts at BTIG Research to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

VSTM has been the topic of a number of other reports. Mizuho set a $18.00 price objective on Verastem in a research note on Thursday, February 19th. HC Wainwright assumed coverage on shares of Verastem in a research note on Wednesday, February 4th. They issued a “buy” rating and a $18.00 target price for the company. Jefferies Financial Group restated a “buy” rating and set a $19.00 price target on shares of Verastem in a research note on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.83.

Verastem Price Performance

Shares of NASDAQ VSTM opened at $5.60 on Wednesday. The company has a current ratio of 3.09, a quick ratio of 3.07 and a debt-to-equity ratio of 1.33. The stock has a fifty day simple moving average of $6.34 and a two-hundred day simple moving average of $8.09. Verastem has a 1-year low of $4.01 and a 1-year high of $11.24. The firm has a market cap of $373.95 million, a price-to-earnings ratio of -1.75 and a beta of 0.40.

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 the consensus estimate of ($0.49) by ($0.01). The business had revenue of $17.54 million during the quarter, compared to analysts’ expectations of $16.85 million. Analysts anticipate that Verastem will post -3.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Daniel Calkins sold 5,039 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $36,079.24. Following the completion of the transaction, the chief financial officer owned 104,719 shares of the company’s stock, valued at approximately $749,788.04. The trade was a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dan Paterson sold 10,321 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $73,898.36. Following the completion of the sale, the chief executive officer owned 400,104 shares in the company, valued at $2,864,744.64. This represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,678 shares of company stock valued at $128,685 over the last 90 days. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verastem

Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in shares of 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 acquiring an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Verastem during the second quarter worth about $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem in the second quarter worth approximately $53,000. The Manufacturers Life Insurance Company raised its stake in Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 4,496 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors.

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.