Verastem’s (VSTM) “Hold” Rating Reiterated at Zacks Investment Research

Zacks Investment Research reiterated their hold rating on shares of Verastem (NASDAQ:VSTM) in a research note released on Saturday, Zacks.com reports.

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. “

A number of other brokerages also recently weighed in on VSTM. ValuEngine downgraded Verastem from a hold rating to a sell rating in a report on Wednesday, May 1st. BTIG Research reduced their target price on Verastem to $8.00 and set a buy rating on the stock in a report on Friday, May 10th. HC Wainwright reaffirmed a buy rating and issued a $2.50 target price on shares of Verastem in a report on Friday, May 10th. Cantor Fitzgerald started coverage on Verastem in a report on Wednesday, April 3rd. They issued an overweight rating and a $5.00 target price on the stock. Finally, Raymond James reduced their target price on Verastem from $12.00 to $6.00 and set an outperform rating on the stock in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Verastem currently has an average rating of Hold and an average price target of $7.66.

Shares of VSTM stock opened at $1.72 on Friday. The company has a current ratio of 7.57, a quick ratio of 7.56 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $130.03 million, a PE ratio of -1.26 and a beta of 3.01. The company has a 50 day moving average of $1.46. Verastem has a 1 year low of $1.16 and a 1 year high of $10.35.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.05). The company had revenue of $1.67 million during the quarter, compared to the consensus estimate of $2.84 million. Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. On average, equities research analysts predict that Verastem will post -1.97 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. Cohen Capital Management Inc. boosted its holdings in shares of Verastem by 1.6% in the 4th quarter. Cohen Capital Management Inc. now owns 253,560 shares of the biopharmaceutical company’s stock valued at $852,000 after purchasing an additional 3,960 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Verastem by 16.0% in the 4th quarter. Advisory Services Network LLC now owns 32,375 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 4,475 shares during the last quarter. Kalos Management Inc. lifted its stake in shares of Verastem by 30.0% in the 4th quarter. Kalos Management Inc. now owns 29,250 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 6,750 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Verastem by 70.0% in the 4th quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in shares of Verastem in the 1st quarter valued at $30,000. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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