Verastem’s (VSTM) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Verastem (NASDAQ:VSTM) in a report issued on Monday morning,Benzinga reports. Jefferies Financial Group currently has a $15.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $19.00.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a report on Wednesday, January 21st. HC Wainwright started coverage on shares of Verastem in a research note on Wednesday, February 4th. They issued a “buy” rating and a $18.00 target price on the stock. BTIG Research started coverage on shares of Verastem in a report on Thursday, March 12th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Verastem has an average rating of “Buy” and a consensus price target of $16.60.

Verastem Stock Performance

NASDAQ:VSTM opened at $5.55 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.07 and a current ratio of 3.09. Verastem has a 52-week low of $4.01 and a 52-week high of $11.24. The firm has a market cap of $487.46 million, a price-to-earnings ratio of -1.73 and a beta of 0.43. The business’s fifty day moving average is $5.92 and its 200 day moving average is $7.69.

Verastem (NASDAQ:VSTM) last issued its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) 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 analyst estimates of $16.85 million. Research analysts predict that Verastem will post -3.02 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dan Paterson sold 10,321 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $7.16, for a total value of $73,898.36. Following the completion of the transaction, the chief executive officer directly owned 400,104 shares in the company, valued at approximately $2,864,744.64. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Calkins sold 5,039 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $7.16, for a total value of $36,079.24. Following the transaction, the chief financial officer owned 104,719 shares in the company, valued at $749,788.04. This trade represents a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,330 shares of company stock worth $116,467. 2.10% of the stock is owned by insiders.

Institutional Trading of Verastem

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in Verastem by 182.9% during the third 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 during the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Verastem in the 2nd quarter worth approximately $49,000. Nebula Research & Development LLC bought a new stake in shares of Verastem in the 2nd quarter worth approximately $53,000. The Manufacturers Life Insurance Company boosted its stake in shares of Verastem by 9.8% in the 2nd 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 boosted its stake in shares of Verastem by 110.9% in the 3rd 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. Institutional investors own 88.37% of the company’s stock.

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.