Verastem (NASDAQ:VSTM) Upgraded to Hold at StockNews.com

Verastem (NASDAQ:VSTM) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other research analysts have also weighed in on the stock. Mizuho raised their price objective on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Guggenheim upped their target price on Verastem from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday. HC Wainwright upped their price target on shares of Verastem from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday. B. Riley lifted their price objective on shares of Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, BTIG Research boosted their price target on shares of Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.88.

Verastem Stock Down 4.5 %

Shares of Verastem stock opened at $6.57 on Monday. The company has a fifty day moving average price of $6.08 and a 200 day moving average price of $4.70. The stock has a market cap of $292.41 million, a price-to-earnings ratio of -2.06 and a beta of 0.60. Verastem has a twelve month low of $2.10 and a twelve month high of $13.52. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.57). Equities research analysts forecast that Verastem will post -3.02 earnings per share for the current fiscal year.

Insider Transactions at Verastem

In related news, CEO Dan Paterson sold 8,568 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $5.24, for a total value of $44,896.32. Following the transaction, the chief executive officer now owns 347,581 shares in the company, valued at approximately $1,821,324.44. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 9,960 shares of company stock valued at $53,498. 2.20% of the stock is owned by insiders.

Institutional Trading of Verastem

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Verastem by 46.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,601 shares of the biopharmaceutical company’s stock valued at $310,000 after purchasing an additional 32,791 shares during the last quarter. FMR LLC bought a new position in Verastem during the third quarter valued at about $41,000. Stonepine Capital Management LLC acquired a new stake in shares of Verastem in the third quarter worth about $3,918,000. Walleye Capital LLC boosted its stake in shares of Verastem by 493.7% during the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock worth $646,000 after acquiring an additional 179,725 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of Verastem by 62.3% during the 3rd quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 11,642 shares during the last quarter. 88.37% of the stock is owned by institutional investors.

About Verastem

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.