A number of research firms have changed their ratings and price targets for Verastem (NASDAQ: VSTM):

  • 12/13/2017 – Verastem was given a new $10.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 12/11/2017 – Verastem had its “buy” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 12/10/2017 – Verastem had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $15.00 price target on the stock.
  • 12/10/2017 – Verastem was given a new $17.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 12/10/2017 – Verastem had its “buy” rating reaffirmed by analysts at Cann. They now have a $15.00 price target on the stock, up previously from $6.00. They wrote, “Verastem presented the DUO data at the American Society of Hematology (ASH) 2017 on Sunday, December 10, 2017. Investigators concluded that DUO results support duvelisib oral monotherapy as a potential new and convenient treatment option for previously treated CLL/SLL patients and the adverse event profile of duvelisib was manageable. Based on the balance of efficacy and adverse events reported from the DUO study, we continue to expect that Verastem will launch duvelisib in 2019, and it will be the primary revenue and earnings driver for Verastem. Our outlook for duvelisib remains unchanged and positive. We are raising our target price to $15 from our prior target of $6 to reflect decreased risk of failure, now that details of the DUO data are released.””
  • 12/1/2017 – Verastem was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 12/1/2017 – Verastem is now covered by analysts at Roth Capital. They set a “buy” rating and a $12.00 price target on the stock.
  • 11/8/2017 – Verastem had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $10.00 price target on the stock.
  • 11/8/2017 – Verastem was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 11/7/2017 – Verastem had its “buy” rating reaffirmed by analysts at Cann. They now have a $6.00 price target on the stock. They wrote, “Verastem’s loss per share of $0.61 compared to estimated $0.35. This resulted from SG&A expenses of $5.4 million being 21.7% higher than our estimated $4.4 million. Verastem has made recent high level staff additions, which partially contribute to the higher SG&A. The primary driver of the higher operating losses was R&D of $17.7 million compared to our estimated $8.5 million. R&D included a milestone payment to Infinity of $6.0 million. We estimate Q3 loss per share, before the milestone, at $0.46.””
  • 10/31/2017 – Verastem was given a new $17.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.
  • 10/17/2017 – Verastem was given a new $17.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock. They wrote, “VSTM has made a $6 million milestone payment to INFI (Not Covered), following positive Phase III DUO results in September, with a final milestone of $22 million due upon regulatory approval, which could come in 2019 following a 2018 NDA filing.””

Shares of Verastem, Inc. (NASDAQ:VSTM) traded up $0.08 during mid-day trading on Thursday, reaching $3.80. 1,379,900 shares of the company’s stock were exchanged, compared to its average volume of 800,000. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.12 and a current ratio of 3.12. Verastem, Inc. has a twelve month low of $1.08 and a twelve month high of $5.71.

Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.29). equities analysts forecast that Verastem, Inc. will post -1.74 EPS for the current fiscal year.

In other news, Director Timothy J. Barberich bought 60,538 shares of the stock in a transaction on Tuesday, December 5th. The stock was bought at an average cost of $3.95 per share, for a total transaction of $239,125.10. Following the completion of the purchase, the director now directly owns 130,000 shares in the company, valued at $513,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.51% of the stock is currently owned by company insiders.

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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