Verastem (NASDAQ:VSTM) Receives “Buy” Rating from BTIG Research

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reaffirmed by research analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $18.00 price objective on the biopharmaceutical company’s stock. BTIG Research’s price target would indicate a potential upside of 306.69% from the stock’s current price.

VSTM has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Wednesday, June 24th. Jefferies Financial Group reduced their price target on Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $15.00 target price on shares of Verastem in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings cut Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Verastem currently has an average rating of “Moderate Buy” and a consensus target price of $14.60.

Verastem Price Performance

NASDAQ VSTM traded up $0.33 during mid-day trading on Thursday, hitting $4.43. The stock had a trading volume of 1,898,334 shares, compared to its average volume of 2,207,615. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89. The company has a market cap of $388.91 million, a price-to-earnings ratio of -1.63 and a beta of 0.29. Verastem has a 52-week low of $3.43 and a 52-week high of $11.24. The company has a 50 day simple moving average of $4.49 and a 200 day simple moving average of $5.75.

Insider Activity at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of the business’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 transaction of $87,240.78. Following the sale, the chief executive officer owned 591,242 shares of the company’s stock, valued at $2,471,391.56. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 corporate insiders.

Hedge Funds Weigh In On Verastem

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Verastem by 78.2% in the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after buying an additional 27,477 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Verastem by 236.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock valued at $4,561,000 after acquiring an additional 531,873 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Verastem by 24.9% during the second quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock valued at $4,978,000 after acquiring an additional 238,995 shares during the period. Rhumbline Advisers boosted its holdings in Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 9,594 shares during the period. Finally, Invesco Ltd. lifted its position in Verastem by 40.0% in the second quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 14,879 shares during the period. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.