Verastem (NASDAQ:VSTM) Receives “Buy” Rating from BTIG Research

BTIG Research reiterated their buy rating on shares of Verastem (NASDAQ:VSTM) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $19.00 target price on the biopharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. Guggenheim reissued a “buy” rating on shares of Verastem in a research note on Tuesday, December 30th. Jefferies Financial Group restated a “buy” rating and set a $15.00 price target (down from $19.00) on shares of Verastem in a report on Monday, March 30th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Verastem in a research report on Friday, April 10th. Finally, Mizuho set a $18.00 price objective on Verastem in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.60.

Verastem Stock Down 0.9%

Shares of NASDAQ VSTM opened at $6.52 on Monday. The company has a quick ratio of 3.07, a current ratio of 3.09 and a debt-to-equity ratio of 1.33. Verastem has a 52 week low of $4.01 and a 52 week high of $11.24. The firm’s fifty day moving average is $5.77 and its 200 day moving average is $7.39. The company has a market cap of $572.72 million, a price-to-earnings ratio of -2.04 and a beta of 0.43.

Verastem (NASDAQ:VSTM) last posted 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 company had revenue of $17.54 million for the quarter, compared to the consensus estimate of $16.85 million. On average, equities research analysts expect that Verastem will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position 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 valued at $40,000 after buying an additional 2,960 shares during the period. E Fund Management Co. Ltd. purchased a new stake in Verastem in the second quarter worth about $49,000. Nebula Research & Development LLC purchased a new stake in Verastem in the second quarter worth about $53,000. The Manufacturers Life Insurance Company boosted its position in 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 acquiring an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 4,496 shares in the last quarter. 88.37% of the stock is owned by hedge funds and other 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.