BTIG Research Reaffirms Buy Rating for Verastem (NASDAQ:VSTM)

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $18.00 target price on the biopharmaceutical company’s stock. BTIG Research’s price objective points to a potential upside of 327.55% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Alliance Global Partners reissued a “buy” rating on shares of Verastem in a report on Friday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Verastem in a report on Wednesday. Weiss Ratings downgraded Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Wall Street Zen lowered Verastem from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Mizuho dropped their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.20.

Verastem Stock Performance

VSTM opened at $4.21 on Wednesday. Verastem has a 12-month low of $3.55 and a 12-month high of $11.24. 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 firm has a market capitalization of $369.93 million, a PE ratio of -1.56 and a beta of 0.27. The firm has a 50 day moving average of $4.79 and a two-hundred day moving average of $6.02.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSTM. Russell Investments Group Ltd. raised its position 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 acquiring an additional 2,960 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of Verastem during the 2nd quarter valued at about $49,000. Nebula Research & Development LLC purchased a new position in shares of Verastem in the 2nd quarter valued at about $53,000. The Manufacturers Life Insurance Company increased its stake in shares of Verastem by 9.8% in 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 in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Verastem by 110.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares during the period. Hedge funds and other 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.