Verastem (NASDAQ:VSTM) Given Buy Rating at BTIG Research

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reissued by BTIG Research in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 target price on the biopharmaceutical company’s stock. BTIG Research’s target price points to a potential upside of 327.55% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday. Alliance Global Partners reissued a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Mizuho reduced their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price objective on Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday. Two investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.20.

Verastem Price Performance

Verastem stock opened at $4.21 on Wednesday. The stock has a market capitalization of $369.93 million, a P/E ratio of -1.56 and a beta of 0.27. The company’s fifty day moving average price is $4.79 and its 200 day moving average price is $6.02. 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 1 year low of $3.55 and a 1 year high of $11.24.

Institutional Investors Weigh In On Verastem

Large investors have recently modified their holdings of the business. Torray Investment Partners LLC acquired a new stake in shares of Verastem in the fourth quarter valued at approximately $1,671,000. Foresite Capital Management VI LLC boosted its stake in Verastem by 104.9% during the third quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company’s stock worth $23,092,000 after buying an additional 1,338,600 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in Verastem by 48.4% in the 3rd quarter. Jefferies Financial Group Inc. now owns 590,184 shares of the biopharmaceutical company’s stock valued at $5,211,000 after buying an additional 192,429 shares in the last quarter. SG Americas Securities LLC grew its holdings in Verastem by 3,333.8% in the 4th quarter. SG Americas Securities LLC now owns 390,325 shares of the biopharmaceutical company’s stock valued at $3,013,000 after buying an additional 378,958 shares in the last quarter. Finally, NEXTBio Capital Management LP purchased a new stake in Verastem in the 4th quarter valued at $10,093,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.