Shares of Verastem, Inc. (NASDAQ:VSTM – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $14.40.
Several equities research analysts have recently weighed in on the company. Mizuho lowered their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Thursday, July 2nd. Jefferies Financial Group decreased their price target on Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Finally, Royal Bank Of Canada set a $14.00 price target on Verastem and gave the company an “outperform” rating in a research report on Tuesday, July 7th.
Get Our Latest Research Report on VSTM
Verastem Stock Performance
Insider Activity at Verastem
In other news, CEO Dan Paterson sold 20,871 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the sale, the chief executive officer owned 591,242 shares in the company, valued at approximately $2,471,391.56. The trade was a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.94% of the company’s stock.
Hedge Funds Weigh In On Verastem
Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Verastem by 78.2% in the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after buying an additional 27,477 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Verastem by 236.9% during the first quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock worth $4,561,000 after buying an additional 531,873 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Verastem by 24.9% during the second quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock worth $4,978,000 after buying an additional 238,995 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Verastem by 19.2% during the second quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 9,594 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Verastem by 40.0% in the second quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock valued at $216,000 after acquiring an additional 14,879 shares during the last quarter. 88.37% of the stock is owned by institutional investors.
Verastem Company Profile
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.
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