Wall Street Zen upgraded shares of Verastem (NASDAQ:VSTM – Free Report) from a sell rating to a hold rating in a research note released on Saturday.
Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group lowered their price target on Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Royal Bank Of Canada set a $14.00 price objective on shares of Verastem and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a research note on Friday, May 8th. BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Verastem in a research report on Thursday, July 2nd. Finally, Mizuho dropped their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.
Read Our Latest Analysis on VSTM
Verastem Price Performance
Insider Activity at Verastem
In related news, CEO Dan Paterson sold 20,871 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing 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 modified their holdings of the company. AQR Capital Management LLC increased its stake in Verastem by 78.2% during the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 27,477 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Verastem by 236.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock worth $4,561,000 after acquiring an additional 531,873 shares during the period. Geode Capital Management LLC grew its holdings in shares of Verastem by 24.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock worth $4,978,000 after purchasing an additional 238,995 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Verastem by 19.2% during the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 9,594 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Verastem by 40.0% during the second quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 14,879 shares during the period. Institutional investors own 88.37% of the company’s stock.
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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