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

by · The Markets Daily

BTIG Research restated their buy rating on shares of Verastem (NASDAQ:VSTM – Free Report) in a report issued on Monday, MarketBeat.com reports. They currently have a $18.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group lowered their price target on shares of Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Monday, September 28th. Wolfe Research started coverage on Verastem in a research note on Thursday, September 17th. They set an “outperform” rating for the company. Royal Bank Of Canada set a $14.00 target price on Verastem and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings upgraded Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Verastem currently has an average rating of “Moderate Buy” and an average price target of $13.83.

Get Our Latest Stock Analysis on Verastem

Verastem Stock Up 3.9%

NASDAQ VSTM opened at $8.00 on Monday. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 1.48. Verastem has a fifty-two week low of $3.43 and a fifty-two week high of $10.82. The business has a 50 day moving average price of $7.25 and a two-hundred day moving average price of $5.78. The stock has a market cap of $724.48 million, a PE ratio of -3.01 and a beta of 0.39.

Verastem (NASDAQ:VSTM – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.08. Verastem had a negative net margin of 231.59% and a negative return on equity of 467.49%. The company had revenue of $40.08 million for the quarter, compared to analyst estimates of $22.88 million. As a group, sell-side analysts predict that Verastem will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Verastem

In other news, CEO Dan Paterson sold 44,121 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $8.00, for a total value of $352,968.00. Following the sale, the chief executive officer owned 652,712 shares in the company, valued at approximately $5,221,696. This represents a 6.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 48,044 shares of company stock valued at $381,484. 1.94% of the stock is currently owned by insiders.

Institutional Trading of Verastem

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP bought a new position in Verastem during the 4th quarter worth approximately $117,000. Hsbc Holdings PLC acquired a new stake in shares of Verastem during the 1st quarter valued at approximately $210,000. ADAR1 Capital Management LLC bought a new position in Verastem during the first quarter worth $377,000. Quantinno Capital Management LP acquired a new position in Verastem in the first quarter worth $394,000. Finally, Knott David M Jr bought a new stake in Verastem during the first quarter valued at $551,000. 88.37% of the stock is owned by institutional investors.

About Verastem

(Get Free Report)

Verastem Oncology (NASDAQ:VSTM) is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancers driven by abnormalities in the RAS/MAPK signaling pathway. The company’s research is aimed at addressing cancers with limited treatment options, including ovarian cancer and other solid tumors.

Verastem’s lead product, avutometinib, is a treatment targeting the RAF/MEK signaling pathway and is marketed in the United States under the brand name Avmapki for certain patients with recurrent low-grade serous ovarian cancer.

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