Verastem (NASDAQ:VSTM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Verastem from “Sell” to “Hold,” while broader analyst sentiment remains a “Moderate Buy,” with an average price target of $13.83.
• Verastem shares opened at $8.20, compared with a 52-week range of $3.43 to $11.24. The company reported quarterly EPS of -$0.35, beating estimates of -$0.43, and revenue of $40.08 million versus the $22.88 million consensus.
• Institutional investors and hedge funds own 88.37% of Verastem after several firms increased or initiated positions, while insiders have sold shares totaling approximately $111,897 over the past 90 days.

Verastem (NASDAQ:VSTM - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

VSTM has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Verastem in a report on Wednesday, June 24th. BTIG Research reiterated a "buy" rating and set a $18.00 price target on shares of Verastem in a report on Thursday, July 2nd. Royal Bank Of Canada set a $14.00 price target on shares of Verastem and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Mizuho set a $13.00 price objective on shares of Verastem and gave the company an "outperform" rating in a research report on Monday, August 10th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Verastem in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $13.83.

Verastem Stock Performance

NASDAQ VSTM opened at $8.20 on Friday. Verastem has a fifty-two week low of $3.43 and a fifty-two week high of $11.24. The stock has a market cap of $742.59 million, a price-to-earnings ratio of -3.08 and a beta of 0.32. The business has a fifty day moving average of $6.19 and a 200-day moving average of $5.50. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 1.48.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.08. The business had revenue of $40.08 million for the quarter, compared to the consensus estimate of $22.88 million. Verastem had a negative return on equity of 467.49% and a negative net margin of 231.59%. As a group, analysts predict that Verastem will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the transaction, the chief executive officer owned 591,242 shares of the company's stock, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,262 shares of company stock valued at $111,897 in the last ninety days. 1.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verastem

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Verastem during the 2nd quarter valued at $706,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Verastem by 157.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 569,195 shares of the biopharmaceutical company's stock valued at $2,174,000 after acquiring an additional 347,872 shares during the last quarter. Seven Fleet Capital Management LP grew its position in Verastem by 715.1% during the first quarter. Seven Fleet Capital Management LP now owns 123,400 shares of the biopharmaceutical company's stock valued at $654,000 after acquiring an additional 108,260 shares during the period. Bank of America Corp DE increased its stake in Verastem by 31.6% during the first quarter. Bank of America Corp DE now owns 416,985 shares of the biopharmaceutical company's stock worth $2,210,000 after acquiring an additional 100,123 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Verastem in the 1st quarter worth about $377,000. 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.

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