Verastem, Inc. (NASDAQ:VSTM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Verastem, Inc. (NASDAQ:VSTM) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.40.

Several analysts have recently issued reports on the company. BTIG Research reissued a “buy” rating and set a $18.00 target price on shares of Verastem in a report on Thursday, July 2nd. Wall Street Zen cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Verastem in a research note on Wednesday, June 24th. Mizuho decreased their target price 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. Finally, Alliance Global Partners restated a “buy” rating on shares of Verastem in a research report on Friday, May 8th.

Insider Transactions at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verastem

Several hedge funds and other institutional investors have recently modified their holdings of VSTM. The Manufacturers Life Insurance Company lifted 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 worth $67,000 after buying an additional 1,440 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Verastem by 10.6% in the fourth quarter. MetLife Investment Management LLC now owns 28,929 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 2,784 shares in the last quarter. Russell Investments Group Ltd. grew its position in Verastem by 182.9% in the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 2,960 shares during the last quarter. Osaic Holdings Inc. raised its stake in Verastem by 27.1% during the fourth quarter. Osaic Holdings Inc. now owns 20,476 shares of the biopharmaceutical company’s stock worth $158,000 after acquiring an additional 4,366 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Verastem by 110.9% during the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 4,496 shares in the last quarter. Institutional investors own 88.37% of the company’s stock.

Verastem Price Performance

Verastem stock opened at $4.85 on Wednesday. The stock’s fifty day moving average price is $4.37 and its two-hundred day moving average price is $5.63. Verastem has a one year low of $3.43 and a one year high of $11.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. The firm has a market cap of $426.17 million, a PE ratio of -1.80 and a beta of 0.29.

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.