Verastem (NASDAQ:VSTM) Earns Buy Rating from Analysts at BTIG Research

BTIG Research began coverage on shares of Verastem (NASDAQ:VSTM) in a research report released on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $19.00 price target on the biopharmaceutical company’s stock.

Other research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. HC Wainwright initiated coverage on shares of Verastem in a research report on Wednesday, February 4th. They set a “buy” rating and a $18.00 target price on the stock. Mizuho set a $18.00 target price on shares of Verastem in a report on Thursday, February 19th. Zacks Research cut shares of Verastem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $19.00 price target on shares of Verastem in a research note on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $16.83.

Verastem Trading Down 4.1%

Shares of VSTM stock opened at $5.60 on Thursday. Verastem has a twelve month low of $4.01 and a twelve month high of $11.24. The stock’s fifty day simple moving average is $6.34 and its 200 day simple moving average is $8.09. The company has a quick ratio of 3.07, a current ratio of 3.09 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $491.85 million, a P/E ratio of -1.75 and a beta of 0.40.

Verastem (NASDAQ:VSTM) last posted its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) EPS 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. As a group, sell-side analysts predict that Verastem will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel Calkins sold 5,039 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 $36,079.24. Following the transaction, the chief financial officer directly owned 104,719 shares of the company’s stock, valued at $749,788.04. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan Paterson sold 10,321 shares of the company’s 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 $73,898.36. Following the completion of the sale, the chief executive officer owned 400,104 shares in the company, valued at $2,864,744.64. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 17,678 shares of company stock worth $128,685. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Verastem

A number of institutional investors have recently modified their holdings of VSTM. The Manufacturers Life Insurance Company increased its position in shares of Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,440 shares during the period. Aries Wealth Management lifted its holdings in Verastem by 10.5% in the third quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company’s stock valued at $232,000 after buying an additional 2,500 shares during the period. MetLife Investment Management LLC lifted its holdings in Verastem by 10.6% in the fourth quarter. MetLife Investment Management LLC now owns 28,929 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 2,784 shares during the period. Russell Investments Group Ltd. boosted its position in 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 acquiring an additional 2,960 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in Verastem by 27.1% during the fourth quarter. Osaic Holdings Inc. now owns 20,476 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 4,366 shares during the last quarter. 88.37% of the stock is owned by institutional investors.

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.