Wall Street Zen Upgrades Verastem (NASDAQ:VSTM) to “Hold”

Verastem (NASDAQ:VSTM) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently commented on the company. BTIG Research reiterated a “buy” rating and set a $18.00 target price on shares of Verastem in a research note on Thursday, July 2nd. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Verastem in a report on Wednesday, June 24th. Mizuho lowered their price objective on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings cut shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Finally, Jefferies Financial Group reduced their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and an average target price of $14.40.

Verastem Stock Performance

Shares of VSTM opened at $6.05 on Friday. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $531.61 million, a price-to-earnings ratio of -2.24 and a beta of 0.29. The stock has a 50 day moving average of $4.51 and a 200 day moving average of $5.46. Verastem has a 12 month low of $3.43 and a 12 month high of $11.24.

Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total value of $87,240.78. Following the completion of the sale, the chief executive officer owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Verastem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of Verastem by 182.9% in the third 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 lifted its stake 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 valued at $75,000 after buying an additional 4,496 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Verastem in the 2nd quarter worth approximately $49,000. DRW Securities LLC bought a new position in Verastem in the 4th quarter worth approximately $93,000. Finally, Nebula Research & Development LLC purchased a new position in Verastem in the 2nd quarter valued at approximately $53,000. 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.