Verastem (NASDAQ:VSTM) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Verastem (NASDAQ:VSTM) from a sell rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “Verastem, Inc., a clinical stage biopharmaceutical company, focuses on discovering and developing drugs to improve outcomes for patients with cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K)/mTOR signaling pathways. Its lead FAK inhibitor is defactinib (VS-6063), an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds. The company’s defactinib is in Phase 1b study for the treatment of pancreatic cancer, as well as in Phase 1/2 clinical trial for the treatment of ovarian cancer, non-small cell lung cancer, mesothelioma, and pancreatic cancer. It also engages in developing duvelisib, an investigational oral therapy that targets the PI3K signaling pathway, as well as attacks malignant B-cells and T-cells and disrupt the tumor microenvironment to help thwart their growth and proliferation for patients with lymphatic cancers through the dual inhibition of PI3K delta and gamma. “

Several other research analysts have also recently issued reports on VSTM. Cantor Fitzgerald started coverage on Verastem in a research report on Wednesday, April 3rd. They set an overweight rating and a $5.00 target price on the stock. HC Wainwright set a $12.00 target price on IMV and gave the company a buy rating in a research report on Friday, May 10th. B. Riley reaffirmed a buy rating and set a $26.00 target price (up previously from $24.00) on shares of KEMET in a research report on Thursday, May 9th. Raymond James reaffirmed a buy rating on shares of Canadian Natural Resources in a research report on Friday, May 10th. Finally, Roth Capital set a $10.00 target price on Savara and gave the company a hold rating in a research report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $7.66.

Shares of NASDAQ:VSTM opened at $1.46 on Friday. The stock has a market capitalization of $112.30 million, a PE ratio of -1.07 and a beta of 2.98. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57. Verastem has a 12-month low of $1.16 and a 12-month high of $10.35. The firm’s 50 day moving average is $1.44.

Verastem (NASDAQ:VSTM) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.05). The company had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.84 million. Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. As a group, analysts anticipate that Verastem will post -1.97 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. purchased a new position in shares of Verastem in the 1st quarter worth $62,000. Marshall Wace LLP purchased a new position in Verastem during the first quarter valued at $319,000. Stratos Wealth Partners LTD. purchased a new position in Verastem during the first quarter valued at $30,000. Rhumbline Advisers lifted its position in Verastem by 26.2% during the first quarter. Rhumbline Advisers now owns 110,813 shares of the biopharmaceutical company’s stock valued at $328,000 after purchasing an additional 23,000 shares in the last quarter. Finally, BNP Paribas Arbitrage SA purchased a new position in Verastem during the first quarter valued at $42,000. 43.82% of the stock is currently owned by institutional investors and hedge funds.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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