B. Riley Reiterates “Buy” Rating for Verastem (VSTM)

B. Riley reissued their buy rating on shares of Verastem (NASDAQ:VSTM) in a report published on Thursday morning, Zacks.com reports.

Other research analysts have also issued research reports about the stock. Raymond James reduced their price objective on shares of Verastem from $12.00 to $6.00 and set an outperform rating for the company in a research note on Thursday, March 14th. HC Wainwright reduced their price objective on shares of Verastem from $13.00 to $10.00 and set a buy rating for the company in a research note on Thursday, March 14th. Zacks Investment Research lowered shares of Verastem from a hold rating to a sell rating in a research note on Wednesday, March 20th. Cantor Fitzgerald assumed coverage on shares of Verastem in a research note on Wednesday, April 3rd. They set an overweight rating and a $5.00 price objective for the company. Finally, BTIG Research reduced their price objective on shares of Verastem to $8.00 and set a buy rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Verastem has an average rating of Hold and a consensus target price of $9.81.

NASDAQ:VSTM opened at $1.36 on Thursday. Verastem has a one year low of $1.20 and a one year high of $10.35. The company has a debt-to-equity ratio of 0.92, a current ratio of 6.83 and a quick ratio of 6.82. The stock has a market capitalization of $139.63 million, a PE ratio of -0.99 and a beta of 2.83.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.05). The firm had revenue of $1.67 million for the quarter, compared to the consensus estimate of $2.84 million. Verastem had a negative return on equity of 74.50% and a negative net margin of 315.21%. Research analysts forecast that Verastem will post -1.75 earnings per share for the current year.

In related news, Director Timothy J. Barberich bought 33,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $3.21 per share, with a total value of $105,930.00. Following the transaction, the director now owns 168,000 shares in the company, valued at $539,280. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Cohen Capital Management Inc. grew its position in Verastem by 1.6% during the 4th quarter. Cohen Capital Management Inc. now owns 253,560 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 3,960 shares during the last quarter. Advisory Services Network LLC grew its position in Verastem by 16.0% during the 4th quarter. Advisory Services Network LLC now owns 32,375 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 4,475 shares during the last quarter. Raymond James & Associates grew its position in Verastem by 15.3% during the 1st quarter. Raymond James & Associates now owns 48,906 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 6,500 shares during the last quarter. Kalos Management Inc. grew its position in Verastem by 30.0% during the 4th quarter. Kalos Management Inc. now owns 29,250 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 6,750 shares during the last quarter. Finally, MML Investors Services LLC grew its position in Verastem by 70.0% during the 4th quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,000 shares during the last quarter. 59.07% of the stock is currently owned by 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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Analyst Recommendations for Verastem (NASDAQ:VSTM)

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