Verastem, Inc. (NASDAQ:VSTM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.
According to Zacks, “Verastem, Inc., a clinical stage biopharmaceutical company, focuses on discovering and developing drugs to improve outcomes for patients with cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K)/mTOR signaling pathways. Its lead FAK inhibitor is defactinib (VS-6063), an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds. The company’s defactinib is in Phase 1b study for the treatment of pancreatic cancer, as well as in Phase 1/2 clinical trial for the treatment of ovarian cancer, non-small cell lung cancer, mesothelioma, and pancreatic cancer. It also engages in developing duvelisib, an investigational oral therapy that targets the PI3K signaling pathway, as well as attacks malignant B-cells and T-cells and disrupt the tumor microenvironment to help thwart their growth and proliferation for patients with lymphatic cancers through the dual inhibition of PI3K delta and gamma. “
Several other research firms have also recently weighed in on VSTM. Cann reiterated a “buy” rating and set a $6.00 price objective on shares of Verastem in a research report on Tuesday, July 25th. HC Wainwright set a $7.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer Holdings, Inc. set a $6.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Cantor Fitzgerald reiterated a “hold” rating and set a $2.00 price objective on shares of Verastem in a research report on Thursday, May 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $1.50 price objective on shares of Verastem in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $4.61.
Shares of Verastem (NASDAQ:VSTM) opened at 3.01 on Friday. The stock has a 50 day moving average price of $3.31 and a 200-day moving average price of $2.15. The stock’s market cap is $111.35 million. Verastem has a 12-month low of $1.05 and a 12-month high of $4.67.
Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by $0.02. Equities analysts anticipate that Verastem will post ($1.38) EPS for the current fiscal year.
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In other news, Director Timothy J. Barberich acquired 30,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director now directly owns 69,462 shares in the company, valued at approximately $170,181.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Artal Group S.A. bought a new stake in Verastem during the second quarter worth approximately $1,090,000. Dimensional Fund Advisors LP boosted its stake in Verastem by 697.6% in the second quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock worth $632,000 after buying an additional 253,492 shares during the last quarter. FMR LLC boosted its stake in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 219,445 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock worth $2,539,000 after buying an additional 204,400 shares during the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Verastem during the second quarter worth approximately $234,000. Institutional investors and hedge funds own 22.31% of the company’s stock.
Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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