Zacks Investment Research Upgrades Verastem (VSTM) to Buy

Zacks Investment Research upgraded shares of Verastem (NASDAQ:VSTM) from a hold rating to a buy rating in a research report report published on Saturday morning. The brokerage currently has $3.75 target price on the biopharmaceutical company’s stock.

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. “

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Other research analysts have also issued research reports about the company. Cantor Fitzgerald reissued a buy rating and issued a $17.00 target price on shares of Verastem in a research report on Tuesday, March 13th. B. Riley assumed coverage on Verastem in a research report on Thursday, March 8th. They issued a buy rating and a $15.00 target price for the company. Roth Capital assumed coverage on Verastem in a research report on Friday, December 1st. They issued a buy rating and a $12.00 target price for the company. HC Wainwright set a $10.00 target price on Verastem and gave the stock a buy rating in a research report on Wednesday, December 13th. Finally, Raymond James Financial reissued a buy rating on shares of Verastem in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Verastem presently has an average rating of Buy and a consensus price target of $10.14.

Verastem (NASDAQ VSTM) opened at $3.11 on Friday. Verastem has a 52-week low of $1.40 and a 52-week high of $5.71. The stock has a market capitalization of $165.10, a P/E ratio of -1.78 and a beta of 2.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.13 and a quick ratio of 5.13.

Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.01). research analysts expect that Verastem will post -1.45 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. AXA increased its position in Verastem by 32.2% during the 4th quarter. AXA now owns 78,425 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 19,118 shares in the last quarter. Northern Trust Corp increased its position in Verastem by 40.3% during the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 21,178 shares in the last quarter. Wells Fargo & Company MN increased its position in Verastem by 130.5% during the 4th quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 26,036 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Verastem during the 3rd quarter valued at approximately $136,000. Finally, SeaCrest Wealth Management LLC bought a new position in Verastem during the 4th quarter valued at approximately $108,000. 31.63% of the stock is owned by institutional investors.

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Verastem Company Profile

Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.

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