Verastem (NASDAQ:VSTM) Raised to “Hold” at Wall Street Zen

by · The Markets Daily

Verastem (NASDAQ:VSTM – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts also recently issued reports on VSTM. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Mizuho cut their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. BTIG Research restated a “buy” rating and issued a $18.00 target price on shares of Verastem in a report on Thursday, July 2nd. 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, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Verastem in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Verastem presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

Get Our Latest Stock Report on Verastem

Verastem Stock Performance

Verastem stock opened at $6.05 on Friday. Verastem has a one year low of $3.43 and a one year high of $11.24. The company’s fifty day moving average price is $4.51 and its two-hundred day moving average price is $5.45. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. The company has a market capitalization of $531.61 million, a price-to-earnings ratio of -2.24 and a beta of 0.29.

Insider Transactions at Verastem

In other Verastem news, CEO Dan Paterson sold 20,871 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the sale, the chief executive officer directly owned 591,242 shares in the company, valued at $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verastem

Several large investors have recently made changes to their positions in the business. Torray Investment Partners LLC bought a new position in Verastem in the 4th quarter worth approximately $1,671,000. SG Americas Securities LLC lifted its holdings in shares of Verastem by 3,333.8% during the fourth quarter. SG Americas Securities LLC now owns 390,325 shares of the biopharmaceutical company’s stock worth $3,013,000 after buying an additional 378,958 shares during the last quarter. AIGH Capital Management LLC bought a new stake in shares of Verastem in the first quarter valued at approximately $10,600,000. Foresite Capital Management VI LLC boosted its position in shares of Verastem by 19.9% in the fourth quarter. Foresite Capital Management VI LLC now owns 3,135,120 shares of the biopharmaceutical company’s stock valued at $24,203,000 after acquiring an additional 520,000 shares during the period. Finally, NEXTBio Capital Management LP acquired a new stake in shares of Verastem in the fourth quarter worth $10,093,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

About Verastem

(Get Free Report)

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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