Verastem (NASDAQ:VSTM) Coverage Initiated at HC Wainwright

Equities research analysts at HC Wainwright assumed coverage on shares of Verastem (NASDAQ:VSTM) in a research note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $18.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 186.62% from the company’s previous close. HC Wainwright also issued estimates for Verastem’s FY2030 earnings at $2.30 EPS.

A number of other research analysts have also issued reports on VSTM. Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, January 21st. Wall Street Zen downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Royal Bank Of Canada set a $13.00 price objective on Verastem and gave the company an “outperform” rating in a report on Monday, October 20th. Mizuho set a $15.00 target price on Verastem in a research report on Wednesday, October 29th. Finally, Guggenheim reissued a “buy” rating on shares of Verastem in a report on Tuesday, December 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.83.

Verastem Stock Down 7.5%

VSTM stock opened at $6.28 on Wednesday. Verastem has a fifty-two week low of $4.01 and a fifty-two week high of $11.24. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. The stock has a market capitalization of $419.38 million, a price-to-earnings ratio of -1.56 and a beta of 0.41. The business’s fifty day moving average price is $7.83 and its two-hundred day moving average price is $8.25.

Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.84). The firm had revenue of $11.24 million for the quarter, compared to the consensus estimate of $5.76 million. On average, equities analysts anticipate that Verastem will post -3.02 earnings per share for the current year.

Insiders Place Their Bets

In other Verastem news, CFO Daniel Calkins sold 5,039 shares of Verastem stock in a transaction dated 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. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dan Paterson sold 10,321 shares of the business’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 transaction, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 50,478 shares of company stock worth $462,045. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verastem

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets boosted its position 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 buying an additional 4,496 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Verastem during the second quarter worth $49,000. Nebula Research & Development LLC acquired a new position in shares of Verastem during the second quarter worth $53,000. Finally, The Manufacturers Life Insurance Company lifted 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 acquiring an additional 1,440 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.