ValuEngine upgraded shares of Verastem (NASDAQ:VSTM) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.
VSTM has been the subject of a number of other reports. HC Wainwright reiterated a buy rating and issued a $10.00 price target on shares of Verastem in a research note on Monday, August 13th. BidaskClub cut Verastem from a buy rating to a hold rating in a research note on Friday, October 26th. BTIG Research set a $17.00 price target on Verastem and gave the company a buy rating in a research note on Tuesday, September 25th. Seaport Global Securities set a $16.00 price target on Verastem and gave the company a buy rating in a research note on Friday, July 27th. Finally, Zacks Investment Research upgraded Verastem from a hold rating to a buy rating and set a $9.00 price target for the company in a research note on Friday, July 20th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $14.40.
Shares of VSTM traded down $0.09 during trading hours on Wednesday, reaching $5.76. The stock had a trading volume of 158,213 shares, compared to its average volume of 2,758,917. Verastem has a 12 month low of $2.77 and a 12 month high of $10.35. The stock has a market capitalization of $374.58 million, a price-to-earnings ratio of -3.27 and a beta of 3.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 7.70 and a current ratio of 7.70.
In related news, CEO Robert Forrester bought 10,500 shares of the stock in a transaction that occurred on Thursday, September 27th. The stock was acquired at an average cost of $7.00 per share, with a total value of $73,500.00. Following the transaction, the chief executive officer now directly owns 209,234 shares in the company, valued at $1,464,638. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Kauffman purchased 4,000 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were acquired at an average price of $7.49 per share, with a total value of $29,960.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at approximately $29,960. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 19,500 shares of company stock valued at $139,420. 6.51% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of VSTM. State Board of Administration of Florida Retirement System acquired a new stake in Verastem during the 2nd quarter worth about $100,000. Metropolitan Life Insurance Co. NY acquired a new stake in Verastem during the 2nd quarter worth about $130,000. Voya Investment Management LLC acquired a new stake in Verastem during the 2nd quarter worth about $139,000. MetLife Investment Advisors LLC acquired a new stake in Verastem during the 2nd quarter worth about $184,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Verastem during the 2nd quarter worth about $240,000. Hedge funds and other institutional investors own 43.40% of the company’s stock.
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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