Verastem (NASDAQ:VSTM) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Verastem (NASDAQ:VSTMFree Report) in a research note released on Tuesday, Benzinga reports. They currently have a $17.50 price target on the biopharmaceutical company’s stock.

Several other research firms have also recently issued reports on VSTM. StockNews.com cut shares of Verastem from a hold rating to a sell rating in a research note on Tuesday, March 12th. BTIG Research reiterated a buy rating and issued a $27.00 price objective on shares of Verastem in a research note on Tuesday, November 21st. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $32.00 price objective on shares of Verastem in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $28.79.

View Our Latest Report on Verastem

Verastem Stock Performance

Shares of Verastem stock opened at $11.93 on Tuesday. The stock has a market cap of $301.83 million, a price-to-earnings ratio of -2.91 and a beta of 0.49. The firm’s 50-day moving average is $11.91 and its 200 day moving average is $9.27. Verastem has a 1 year low of $4.20 and a 1 year high of $15.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.45 and a quick ratio of 5.45.

Insiders Place Their Bets

In other Verastem news, Director Robert E. Gagnon sold 9,204 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $10.95, for a total transaction of $100,783.80. Following the sale, the director now owns 37,008 shares in the company, valued at approximately $405,237.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 9,817 shares of company stock worth $107,290. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Verastem

A number of institutional investors have recently added to or reduced their stakes in VSTM. Millennium Management LLC grew its holdings in shares of Verastem by 417.3% in the second quarter. Millennium Management LLC now owns 5,154,530 shares of the biopharmaceutical company’s stock valued at $5,979,000 after purchasing an additional 4,158,108 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Verastem in the fourth quarter valued at $662,000. Renaissance Technologies LLC grew its holdings in shares of Verastem by 190.2% in the first quarter. Renaissance Technologies LLC now owns 1,684,106 shares of the biopharmaceutical company’s stock valued at $2,375,000 after purchasing an additional 1,103,806 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Verastem by 116.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company’s stock valued at $10,569,000 after purchasing an additional 700,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Verastem by 6.6% in the third quarter. Vanguard Group Inc. now owns 8,511,513 shares of the biopharmaceutical company’s stock valued at $7,235,000 after purchasing an additional 528,022 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

About Verastem

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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.

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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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