Verastem’s (VSTM) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Verastem (NASDAQ:VSTM) in a research report sent to investors on Friday,Benzinga reports. BTIG Research currently has a $18.00 price target on the biopharmaceutical company’s stock.

Other analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, September 4th. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Verastem in a report on Wednesday, June 24th. Jefferies Financial Group cut their price objective on Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Finally, Guggenheim set a $12.00 target price on Verastem and gave the stock a “buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Verastem currently has a consensus rating of “Moderate Buy” and an average price target of $13.83.

Verastem Stock Performance

VSTM stock opened at $7.32 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.25 and a quick ratio of 2.22. Verastem has a 1-year low of $3.43 and a 1-year high of $10.82. The business has a 50 day simple moving average of $6.55 and a two-hundred day simple moving average of $5.57. The company has a market capitalization of $662.90 million, a price-to-earnings ratio of -2.75 and a beta of 0.32.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.08. Verastem had a negative net margin of 231.59% and a negative return on equity of 467.49%. The firm had revenue of $40.08 million for the quarter, compared to analysts’ expectations of $22.88 million. Research analysts anticipate that Verastem will post -1.56 EPS for the current fiscal year.

Insider Transactions at Verastem

In other Verastem news, CEO Dan Paterson sold 20,871 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the transaction, the chief executive officer owned 591,242 shares in the company, valued at $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,262 shares of company stock worth $111,897 over the last quarter. 1.94% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verastem

Several large investors have recently added to or reduced their stakes in VSTM. Russell Investments Group Ltd. lifted its stake in shares of 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 purchasing an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Verastem in the 2nd quarter worth approximately $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem during the 2nd quarter valued at 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 valued at $67,000 after purchasing an additional 1,440 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings 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 buying an additional 4,496 shares during the period. 88.37% of the stock is owned by institutional investors.

Verastem Company Profile

Verastem Oncology is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancers driven by abnormalities in the RAS/MAPK signaling pathway. The company’s research is aimed at addressing cancers with limited treatment options, including ovarian cancer and other solid tumors.

Verastem’s principal products include avutometinib, a RAF/MEK pathway inhibitor, and defactinib, a focal adhesion kinase (FAK) inhibitor. The company has studied these therapies both individually and in combination, with the goal of improving cancer-cell response and overcoming treatment resistance.