Verastem (NASDAQ:VSTM) Earns “Buy” Rating from Jefferies Financial Group

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating restated by analysts at Jefferies Financial Group in a report released on Monday,Benzinga reports. They presently have a $15.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $19.00. Jefferies Financial Group’s price objective suggests a potential upside of 183.02% from the stock’s previous close.

A number of other research firms have also issued reports on VSTM. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Mizuho set a $18.00 price target on Verastem in a report on Thursday, February 19th. HC Wainwright started coverage on Verastem in a research report on Wednesday, February 4th. They issued a “buy” rating and a $18.00 price objective for the company. BTIG Research initiated coverage on shares of Verastem in a research note on Thursday, March 12th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.60.

Verastem Stock Up 9.3%

VSTM stock opened at $5.30 on Monday. The stock has a market capitalization of $465.53 million, a price-to-earnings ratio of -1.66 and a beta of 0.40. The company has a 50-day moving average of $5.93 and a two-hundred day moving average of $7.71. Verastem has a 52-week low of $4.01 and a 52-week high of $11.24. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.09 and a quick ratio of 3.07.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The firm had revenue of $17.54 million during the quarter, compared to analyst estimates of $16.85 million. As a group, equities research analysts anticipate that Verastem will post -3.02 EPS for the current year.

Insider Activity at Verastem

In other Verastem news, CFO Daniel Calkins sold 5,039 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total value of $36,079.24. Following the completion of the sale, the chief financial officer owned 104,719 shares in the company, valued at approximately $749,788.04. This trade represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Paterson sold 10,321 shares of Verastem stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total value of $73,898.36. Following the sale, the chief executive officer directly owned 400,104 shares in the company, valued at $2,864,744.64. The trade was a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,330 shares of company stock valued at $116,467. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently bought and sold shares of VSTM. Polar Capital Holdings Plc increased its stake in Verastem by 270.7% in the fourth quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock valued at $30,302,000 after acquiring an additional 2,866,350 shares during the period. Armistice Capital LLC acquired a new position in Verastem in the second quarter worth about $8,864,000. Farallon Capital Management LLC bought a new position in Verastem during the fourth quarter worth about $15,440,000. SymBiosis Capital Partners LLC acquired a new stake in Verastem during the fourth quarter valued at approximately $15,440,000. Finally, Foresite Capital Management VI LLC boosted its holdings 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 valued at $23,092,000 after purchasing an additional 1,338,600 shares in the last quarter. Institutional investors own 88.37% of the company’s stock.

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.