Verastem’s (VSTM) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Verastem (NASDAQ:VSTM) in a research note issued to investors on Tuesday,Benzinga reports. BTIG Research currently has a $20.00 target price on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. B. Riley upgraded Verastem to a “strong-buy” rating in a research report on Monday, August 25th. Royal Bank Of Canada increased their price target on Verastem from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen upgraded Verastem from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Zacks Research upgraded Verastem to a “hold” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $13.29.

Verastem Stock Down 5.4%

Verastem stock opened at $9.35 on Tuesday. The firm has a market cap of $575.45 million, a price-to-earnings ratio of -2.85 and a beta of 0.93. Verastem has a 52 week low of $2.54 and a 52 week high of $11.24. The business’s 50-day moving average price is $7.16 and its 200 day moving average price is $6.56. The company has a quick ratio of 3.44, a current ratio of 3.46 and a debt-to-equity ratio of 2.06.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.25. The business had revenue of $2.14 million for the quarter, compared to analysts’ expectations of $6.01 million. As a group, sell-side analysts anticipate that Verastem will post -3.02 earnings per share for the current year.

Insider Buying and Selling at Verastem

In other news, CEO Dan Paterson sold 17,808 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $5.13, for a total value of $91,355.04. Following the transaction, the chief executive officer owned 443,839 shares in the company, valued at $2,276,894.07. This trade represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 24,488 shares of company stock valued at $127,149 in the last quarter. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Verastem

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Verastem by 51.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 1,698 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Verastem in the second quarter valued at approximately $49,000. Nebula Research & Development LLC acquired a new stake in shares of Verastem in the second quarter valued at approximately $53,000. ProShare Advisors LLC acquired a new stake in shares of Verastem in the fourth quarter valued at approximately $56,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Verastem in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

About Verastem

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.