Verastem (NASDAQ:VSTM) Lifted to “Hold” at ValuEngine

Verastem (NASDAQ:VSTM) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

VSTM has been the subject of a number of other research reports. Roth Capital cut their target price on shares of Verastem from $14.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. B. Riley reaffirmed a “buy” rating on shares of Verastem in a research report on Thursday, May 9th. Cantor Fitzgerald started coverage on shares of Verastem in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $5.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $2.50 price target on shares of Verastem in a research report on Friday, May 10th. Finally, Zacks Investment Research raised shares of Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.46.

Shares of NASDAQ VSTM traded up $0.09 during mid-day trading on Thursday, reaching $1.59. 1,980,156 shares of the company were exchanged, compared to its average volume of 2,413,359. The firm’s 50-day moving average is $1.49. The company has a debt-to-equity ratio of 1.42, a current ratio of 7.57 and a quick ratio of 7.56. The company has a market capitalization of $117.46 million, a PE ratio of -1.16 and a beta of 2.98. Verastem has a twelve month low of $1.16 and a twelve month high of $10.35.

Verastem (NASDAQ:VSTM) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). The company had revenue of $1.67 million for the quarter, compared to analyst estimates of $2.84 million. Verastem had a negative return on equity of 79.68% and a negative net margin of 315.21%. As a group, analysts expect 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 position in Verastem during the first quarter worth about $30,000. Principal Financial Group Inc. bought a new position in Verastem in the 4th quarter valued at about $35,000. Amalgamated Bank bought a new position in Verastem in the 4th quarter valued at about $35,000. Commonwealth Equity Services LLC increased its holdings in Verastem by 43.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 26,697 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 8,054 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new position in Verastem in the 1st quarter valued at about $42,000. 43.80% of the stock is currently owned by institutional investors and hedge funds.

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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