Verastem (NASDAQ:VSTM) Rating Increased to Hold at Wall Street Zen

Verastem (NASDAQ:VSTM) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages also recently issued reports on VSTM. Mizuho lowered their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Verastem in a research note on Thursday, July 2nd. Royal Bank Of Canada set a $14.00 target price on shares of Verastem and gave the stock an “outperform” rating in a report on Tuesday, July 7th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Verastem in a research note on Wednesday, June 24th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Verastem in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

Verastem Stock Down 2.1%

Shares of NASDAQ VSTM opened at $6.05 on Friday. Verastem has a 52 week low of $3.43 and a 52 week high of $11.24. The business has a 50-day simple moving average of $4.51 and a two-hundred day simple moving average of $5.46. 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 $531.61 million, a P/E ratio of -2.24 and a beta of 0.29.

Insider Activity

In other news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the sale, the chief executive officer owned 591,242 shares in the company, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.94% of the company’s stock.

Institutional Investors Weigh In On Verastem

A number of institutional investors and hedge funds have recently bought and sold shares of VSTM. Russell Investments Group Ltd. lifted its position in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Verastem in the 2nd quarter worth $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem in the 2nd quarter worth $53,000. The Manufacturers Life Insurance Company raised its position in shares of Verastem by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Verastem by 110.9% during 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. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.