Verastem, Inc. (NASDAQ:VSTM) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Verastem, Inc. (NASDAQ:VSTM) from a sell rating to a hold rating in a report issued on Wednesday, November 8th.

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. “

VSTM has been the subject of a number of other reports. Cann reaffirmed a buy rating on shares of Verastem in a report on Wednesday, August 16th. Cantor Fitzgerald upgraded Verastem from a neutral rating to an overweight rating and set a $2.00 target price on the stock in a research report on Wednesday, September 6th. Oppenheimer Holdings, Inc. reiterated a buy rating and set a $6.00 target price on shares of Verastem in a research report on Thursday, October 12th. HC Wainwright set a $7.00 price target on Verastem and gave the company a buy rating in a research report on Thursday, August 10th. Finally, ValuEngine cut Verastem from a hold rating to a sell rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $7.18.

Verastem (NASDAQ:VSTM) traded down $0.03 during mid-day trading on Wednesday, reaching $3.43. The company’s stock had a trading volume of 173,194 shares, compared to its average volume of 386,784. 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 one year low of $1.05 and a one year high of $5.71.

Verastem (NASDAQ:VSTM) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.29). equities research analysts anticipate that Verastem will post -1.76 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in Verastem in the 3rd quarter valued at $136,000. Point72 Asset Management L.P. acquired a new stake in shares of Verastem during the 3rd quarter worth $6,580,000. Dimensional Fund Advisors LP increased its holdings in shares of Verastem by 93.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock worth $2,641,000 after buying an additional 272,141 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Verastem during the 3rd quarter worth $195,000. Finally, EAM Investors LLC acquired a new stake in shares of Verastem during the 3rd quarter worth $2,092,000. Institutional investors own 22.25% of the company’s stock.

About Verastem

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.

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