Verastem (NASDAQ:VSTM – Get Free Report)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They currently have a $18.00 price target on the biopharmaceutical company’s stock. BTIG Research’s price objective would indicate a potential upside of 136.22% from the company’s current price.
A number of other equities analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Verastem in a research report on Wednesday, June 24th. Weiss Ratings raised shares of Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th. Mizuho set a $13.00 price target on shares of Verastem and gave the company an “outperform” rating in a research note on Monday, August 10th. Guggenheim set a $12.00 price objective on shares of Verastem and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada set a $14.00 price objective on shares of Verastem and gave the company an “outperform” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Verastem has an average rating of “Moderate Buy” and an average price target of $13.83.
Read Our Latest Analysis on VSTM
Verastem Stock Performance
Verastem (NASDAQ:VSTM – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.08. Verastem had a negative return on equity of 467.49% and a negative net margin of 231.59%.The company had revenue of $40.08 million during the quarter, compared to the consensus estimate of $22.88 million. On average, equities research analysts forecast that Verastem will post -1.56 EPS for the current year.
Insider Activity at Verastem
In other Verastem news, CEO Dan Paterson sold 20,871 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $87,240.78. Following the sale, the chief executive officer owned 591,242 shares in the company, valued at $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 26,262 shares of company stock valued at $111,897. 1.94% of the stock is owned by corporate insiders.
Institutional Trading of Verastem
Several hedge funds have recently added to or reduced their stakes in VSTM. Opaleye Management Inc. bought a new stake in Verastem in the second quarter valued at approximately $6,876,000. Bank of New York Mellon Corp purchased a new position in shares of Verastem in the second quarter worth $706,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Verastem by 157.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 569,195 shares of the biopharmaceutical company’s stock worth $2,174,000 after buying an additional 347,872 shares during the period. Seven Fleet Capital Management LP raised its holdings in Verastem by 715.1% during the 1st quarter. Seven Fleet Capital Management LP now owns 123,400 shares of the biopharmaceutical company’s stock valued at $654,000 after buying an additional 108,260 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Verastem by 31.6% during the 1st quarter. Bank of America Corp DE now owns 416,985 shares of the biopharmaceutical company’s stock valued at $2,210,000 after buying an additional 100,123 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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