Verastem (NASDAQ:VSTM) Now Covered by HC Wainwright

HC Wainwright assumed coverage on shares of Verastem (NASDAQ:VSTM) in a research note published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $18.00 price objective on the biopharmaceutical company’s stock.

VSTM has been the subject of several other research reports. Guggenheim restated a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th. Cantor Fitzgerald raised Verastem to a “strong-buy” rating in a report on Thursday, October 30th. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Royal Bank Of Canada set a $13.00 target price on shares of Verastem and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Zacks Research lowered shares of Verastem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Verastem presently has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Verastem Stock Up 7.8%

VSTM opened at $6.79 on Wednesday. The company has a market capitalization of $453.44 million, a P/E ratio of -1.68 and a beta of 0.41. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. The firm’s fifty day moving average price is $7.92 and its two-hundred day moving average price is $8.26. Verastem has a fifty-two week low of $4.01 and a fifty-two week high of $11.24.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.84). The firm had revenue of $11.24 million for the quarter, compared to the consensus estimate of $5.76 million. On average, analysts anticipate that Verastem will post -3.02 EPS for the current year.

Insider Activity at Verastem

In other news, CFO Daniel Calkins sold 5,039 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $36,079.24. Following the transaction, the chief financial officer directly owned 104,719 shares in the company, valued at approximately $749,788.04. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul A. Bunn sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $10.00, for a total transaction of $62,500.00. Following the completion of the sale, the director directly owned 2,083 shares of the company’s stock, valued at approximately $20,830. This represents a 75.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,508 shares of company stock worth $455,556 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares during the period. Aries Wealth Management boosted its position in shares of Verastem by 10.5% during the third quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company’s stock worth $232,000 after purchasing an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares during the period. BNP Paribas Financial Markets increased its position in shares of Verastem by 110.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 4,496 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Verastem by 28.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,945 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 6,691 shares during the period. Institutional investors and hedge funds 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.