Zacks Investment Research cut shares of Verastem (NASDAQ:VSTM) from a hold rating to a sell rating in a report published on Wednesday morning.
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 equities analysts have also recently commented on VSTM. Cantor Fitzgerald set a $17.00 price target on shares of Verastem and gave the stock a buy rating in a research note on Tuesday, October 31st. Cann reaffirmed a buy rating and issued a $6.00 price objective on shares of Verastem in a research note on Tuesday, November 7th. HC Wainwright reaffirmed a buy rating and issued a $10.00 price objective on shares of Verastem in a research note on Wednesday, November 8th. Roth Capital assumed coverage on shares of Verastem in a research note on Friday, December 1st. They issued a buy rating and a $12.00 price objective for the company. Finally, ValuEngine cut shares of Verastem from a sell rating to a strong sell rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $9.53.
Verastem (VSTM) opened at $3.18 on Wednesday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. Verastem has a 12 month low of $1.11 and a 12 month high of $5.71. The company has a market cap of $136.73, a P/E ratio of -1.94 and a beta of 2.20.
In other Verastem news, Director Timothy J. Barberich acquired 60,538 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was bought at an average price of $3.95 per share, with a total value of $239,125.10. Following the purchase, the director now owns 130,000 shares of the company’s stock, valued at $513,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.51% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BVF Inc. IL purchased a new stake in Verastem during the 4th quarter valued at $6,908,000. Point72 Asset Management L.P. purchased a new stake in Verastem during the 3rd quarter valued at $6,580,000. Vanguard Group Inc. boosted its position in Verastem by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock valued at $2,493,000 after buying an additional 107,029 shares during the period. Artal Group S.A. boosted its position in Verastem by 33.3% during the 4th quarter. Artal Group S.A. now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $3,070,000 after buying an additional 250,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Verastem by 93.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock valued at $2,641,000 after buying an additional 272,141 shares during the period. 29.76% of the stock is owned by institutional investors and hedge funds.
WARNING: “Verastem (VSTM) Stock Rating Lowered by Zacks Investment Research” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/02/22/verastem-vstm-stock-rating-lowered-by-zacks-investment-research.html.
Verastem Company Profile
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.
Get a free copy of the Zacks research report on Verastem (VSTM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.