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

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

A number of other research firms have also weighed in on VSTM. Jefferies Financial Group reiterated a “buy” rating and set a $19.00 target price on shares of Verastem in a report on Thursday, March 5th. HC Wainwright started coverage on Verastem in a research report on Wednesday, February 4th. They issued a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Mizuho set a $18.00 target price on Verastem in a report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $16.83.

Verastem Trading Down 4.1%

NASDAQ:VSTM opened at $5.60 on Wednesday. The firm has a market capitalization of $373.95 million, a P/E ratio of -1.75 and a beta of 0.40. The company has a quick ratio of 3.07, a current ratio of 3.09 and a debt-to-equity ratio of 1.33. The company has a fifty day moving average of $6.34 and a 200 day moving average of $8.09. Verastem has a 52 week low of $4.01 and a 52 week high of $11.24.

Verastem (NASDAQ:VSTM) last announced its quarterly 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). The business had revenue of $17.54 million for the quarter, compared to analyst estimates of $16.85 million. On average, research analysts predict that Verastem will post -3.02 earnings per share for the current year.

Insider Activity at Verastem

In other Verastem news, CEO Dan Paterson sold 10,321 shares of Verastem 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 sale, the chief executive officer directly owned 400,104 shares of the company’s stock, valued at approximately $2,864,744.64. The trade was a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Calkins sold 5,039 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 17,678 shares of company stock worth $128,685. Insiders own 2.10% of the company’s stock.

Institutional Trading of Verastem

Several hedge funds and other institutional investors have recently made changes to their positions in VSTM. Polar Capital Holdings Plc grew its stake in shares of Verastem by 270.7% in the 4th quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock worth $30,302,000 after buying an additional 2,866,350 shares during the last quarter. Armistice Capital LLC bought a new stake in Verastem in the second quarter worth $8,864,000. Farallon Capital Management LLC bought a new stake in Verastem in the fourth quarter worth $15,440,000. SymBiosis Capital Partners LLC purchased a new stake in shares of Verastem in the fourth quarter worth $15,440,000. Finally, Foresite Capital Management VI LLC increased its holdings in shares of Verastem by 104.9% during the third quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company’s stock valued at $23,092,000 after acquiring an additional 1,338,600 shares in the last quarter. 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.