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. ValuEngine lowered Verastem from a hold rating to a sell rating in a research report on Wednesday, May 1st. BTIG Research decreased their target price on Verastem to $8.00 and set a buy rating for the company in a research report on Friday, May 10th. HC Wainwright reaffirmed a buy rating and issued a $2.50 target price on shares of Verastem in a research report on Friday, May 10th. Cantor Fitzgerald initiated coverage on Verastem in a research report on Wednesday, April 3rd. They issued an overweight rating and a $5.00 target price for the company. Finally, Raymond James decreased their target price on Verastem from $12.00 to $6.00 and set an outperform rating for the company in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $7.66.
Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $1.67 million during the quarter, compared to the consensus estimate of $2.84 million. Analysts expect that Verastem will post -1.97 earnings per share for the current year.
In other news, Director Timothy J. Barberich bought 33,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $3.21 per share, with a total value of $105,930.00. Following the transaction, the director now directly owns 168,000 shares of the company’s stock, valued at approximately $539,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in VSTM. Millennium Management LLC boosted its stake in Verastem by 2,376.5% during the 4th quarter. Millennium Management LLC now owns 1,248,037 shares of the biopharmaceutical company’s stock valued at $4,193,000 after purchasing an additional 1,197,642 shares during the last quarter. Two Sigma Investments LP boosted its stake in Verastem by 1,540.3% during the 4th quarter. Two Sigma Investments LP now owns 1,235,176 shares of the biopharmaceutical company’s stock valued at $4,150,000 after purchasing an additional 1,159,874 shares during the last quarter. BlackRock Inc. boosted its stake in Verastem by 21.0% during the 4th quarter. BlackRock Inc. now owns 5,621,011 shares of the biopharmaceutical company’s stock valued at $18,886,000 after purchasing an additional 976,123 shares during the last quarter. Citigroup Inc. boosted its stake in Verastem by 246.4% during the 4th quarter. Citigroup Inc. now owns 908,904 shares of the biopharmaceutical company’s stock valued at $3,054,000 after purchasing an additional 646,545 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Verastem by 98.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,085,135 shares of the biopharmaceutical company’s stock valued at $3,646,000 after purchasing an additional 539,193 shares during the last quarter. Institutional investors and hedge funds own 43.83% of the company’s stock.
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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