BTIG Research Reiterates “Buy” Rating for Verastem (NASDAQ:VSTM)

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a report released on Friday,Benzinga reports. They presently have a $19.00 target price on the biopharmaceutical company’s stock. BTIG Research’s target price suggests a potential upside of 257.82% from the stock’s previous close.

Several other research firms have also weighed in on VSTM. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Guggenheim restated a “buy” rating on shares of Verastem in a report on Tuesday, December 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a report on Wednesday, January 21st. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Verastem in a report on Friday. Finally, Mizuho set a $18.00 price target on Verastem in a report on Thursday, February 19th. Two 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Verastem Trading Down 5.0%

NASDAQ:VSTM opened at $5.31 on Friday. Verastem has a 1-year low of $4.01 and a 1-year high of $11.24. The business’s 50-day moving average price is $5.80 and its two-hundred day moving average price is $7.50. 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 firm has a market capitalization of $466.38 million, a price-to-earnings ratio of -1.66 and a beta of 0.43.

Verastem (NASDAQ:VSTM) last released its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) earnings per share 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. On average, equities analysts expect that Verastem will post -3.02 earnings per share for the current year.

Insider Buying and Selling

In related 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 value of $73,898.36. Following the sale, the chief executive officer 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Calkins sold 5,039 shares of Verastem stock in a transaction that occurred on Monday, January 12th. The shares were 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 directly owned 104,719 shares in the company, valued at approximately $749,788.04. This represents a 4.59% decrease in their position. 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 Investors Weigh In On Verastem

A number of hedge funds and other institutional investors have recently bought and sold shares of VSTM. Russell Investments Group Ltd. raised its position in 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 buying an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Verastem during the 2nd quarter worth approximately $49,000. Nebula Research & Development LLC acquired a new position in shares of Verastem during the 2nd quarter worth approximately $53,000. The Manufacturers Life Insurance Company increased its position 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 worth $67,000 after purchasing an additional 1,440 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Verastem by 110.9% during 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 last quarter. Institutional investors and hedge funds 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.