HC Wainwright Reiterates “Buy” Rating for Verastem (NASDAQ:VSTM)

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They presently have a $18.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 327.55% from the stock’s previous close.

A number of other analysts also recently issued reports on VSTM. Mizuho cut their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. BTIG Research lowered their price target on shares of Verastem from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings lowered shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Wall Street Zen cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group reduced their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and an average price target of $14.20.

Verastem Stock Performance

Shares of Verastem stock opened at $4.21 on Wednesday. The business’s 50 day moving average price is $4.79 and its 200 day moving average price is $6.02. The company has a market cap of $369.93 million, a price-to-earnings ratio of -1.56 and a beta of 0.27. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. Verastem has a one year low of $3.55 and a one year high of $11.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VSTM. Russell Investments Group Ltd. grew its stake 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 valued at $40,000 after buying an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Verastem during the 2nd quarter worth about $49,000. Nebula Research & Development LLC purchased a new stake in Verastem during the second quarter worth about $53,000. The Manufacturers Life Insurance Company grew its holdings in shares of Verastem by 9.8% in the second 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 grew its holdings in shares of Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 4,496 shares in the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

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.