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

BTIG Research upgraded shares of Verastem (NASDAQ:VSTM) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

VSTM has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Guggenheim reaffirmed a “buy” rating on shares of Verastem in a report on Tuesday, December 30th. Zacks Research cut shares of Verastem from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Mizuho set a $18.00 price target on shares of Verastem in a report on Thursday, February 19th. Three equities 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $16.83.

Verastem Stock Performance

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

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The firm had revenue of $17.54 million during the quarter, compared to analysts’ expectations of $16.85 million. On average, analysts expect that Verastem will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in shares of Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Verastem in the 2nd quarter valued at $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem during the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company grew its holdings in shares of Verastem by 9.8% during 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 during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Verastem by 110.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares during the period. 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.