Verastem (NASDAQ:VSTM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday, Zacks.com reports.

According to Zacks, “Verastem, Inc., a clinical stage biopharmaceutical company, focuses on discovering and developing drugs to improve outcomes for patients with cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K)/mTOR signaling pathways. Its lead FAK inhibitor is defactinib (VS-6063), an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds. The company’s defactinib is in Phase 1b study for the treatment of pancreatic cancer, as well as in Phase 1/2 clinical trial for the treatment of ovarian cancer, non-small cell lung cancer, mesothelioma, and pancreatic cancer. It also engages in developing duvelisib, an investigational oral therapy that targets the PI3K signaling pathway, as well as attacks malignant B-cells and T-cells and disrupt the tumor microenvironment to help thwart their growth and proliferation for patients with lymphatic cancers through the dual inhibition of PI3K delta and gamma. “

Other research analysts also recently issued research reports about the stock. BTIG Research lowered their price objective on shares of Verastem to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of Verastem in a research report on Friday, May 10th. B. Riley reiterated a “buy” rating on shares of Verastem in a research report on Thursday, May 9th. Roth Capital decreased their price target on shares of Verastem from $14.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Finally, Raymond James downgraded shares of Verastem from an “outperform” rating to a “market perform” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Verastem presently has an average rating of “Hold” and a consensus target price of $8.69.

Shares of NASDAQ:VSTM traded down $0.05 during trading on Friday, reaching $1.33. 1,388,990 shares of the stock traded hands, compared to its average volume of 2,615,229. Verastem has a 52-week low of $1.20 and a 52-week high of $10.35. The company has a quick ratio of 7.56, a current ratio of 7.57 and a debt-to-equity ratio of 1.42. The stock has a market cap of $98.26 million, a price-to-earnings ratio of -0.97 and a beta of 2.83.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. The firm had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.84 million. As a group, sell-side analysts anticipate that Verastem will post -1.96 earnings per share for the current year.

In other news, Director Timothy J. Barberich acquired 33,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average cost of $3.21 per share, for a total transaction of $105,930.00. Following the transaction, the director now directly owns 168,000 shares of the company’s stock, valued at $539,280. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.10% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Verastem by 2.5% during the 1st quarter. BlackRock Inc. now owns 5,763,937 shares of the biopharmaceutical company’s stock valued at $17,062,000 after purchasing an additional 142,926 shares during the period. Vanguard Group Inc lifted its holdings in Verastem by 20.5% during the 3rd quarter. Vanguard Group Inc now owns 3,130,491 shares of the biopharmaceutical company’s stock valued at $22,696,000 after buying an additional 532,484 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Verastem by 20.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,130,491 shares of the biopharmaceutical company’s stock valued at $22,696,000 after buying an additional 532,484 shares in the last quarter. Millennium Management LLC lifted its holdings in Verastem by 2,376.5% during the 4th quarter. Millennium Management LLC now owns 1,248,037 shares of the biopharmaceutical company’s stock valued at $4,193,000 after buying an additional 1,197,642 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of Verastem by 1,540.3% in the 4th quarter. Two Sigma Investments LP now owns 1,235,176 shares of the biopharmaceutical company’s stock valued at $4,150,000 after purchasing an additional 1,159,874 shares in the last quarter. Hedge funds and other institutional investors own 54.88% of the company’s stock.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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