Verastem (NASDAQ:VSTM) Stock Rating Reaffirmed by Zacks Investment Research

Verastem (NASDAQ:VSTM)‘s stock had its “hold” rating reiterated by Zacks Investment Research in a research report issued to clients and investors 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. “

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 target price on shares of Verastem in a research note on Friday, May 10th. Raymond James downgraded shares of Verastem from an “outperform” rating to a “market perform” rating in a research note on Friday, May 10th. Cantor Fitzgerald started coverage on shares of Verastem in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 target price on the stock. Finally, B. Riley reaffirmed a “buy” rating on shares of Verastem in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Verastem has a consensus rating of “Hold” and a consensus price target of $7.66.

Shares of NASDAQ VSTM opened at $1.81 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. Verastem has a 52 week low of $1.16 and a 52 week high of $10.35. The firm has a market capitalization of $133.72 million, a P/E ratio of -1.32 and a beta of 3.01.

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

Large investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. bought a new stake in Verastem in the first quarter valued at $30,000. Amalgamated Bank bought a new stake in Verastem in the fourth quarter valued at $35,000. Principal Financial Group Inc. bought a new stake in Verastem in the fourth quarter valued at $35,000. BNP Paribas Arbitrage SA bought a new stake in Verastem in the first quarter valued at $42,000. Finally, MML Investors Services LLC boosted its holdings in Verastem by 70.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.

About Verastem

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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