HC Wainwright restated their buy rating on shares of Verastem (NASDAQ:VSTM) in a research report sent to investors on Friday, AnalystRatings.com reports. The firm currently has a $2.50 price target on the biopharmaceutical company’s stock.
“We maintain our Buy rating of VSTM and lower our 12-month price target to $2.50 per share, down from $10.00. We derive our price target based on the average of two valuation methods: (1) price-sales multiple analysis applying an 8x multiple to our 2025 sales estimate discounted at 12%; and (2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. (1) commercial; (2) clinical; (3) financial; (4) regulatory; and (5) intellectual property.”,” the firm’s analyst wrote.
A number of other analysts have also weighed in on VSTM. BidaskClub lowered shares of Verastem from a sell rating to a strong sell rating in a report on Wednesday, January 16th. Zacks Investment Research raised shares of Verastem from a hold rating to a strong-buy rating and set a $4.00 price target for the company in a research note on Saturday, January 19th. Raymond James decreased their price target on shares of Verastem from $12.00 to $6.00 and set an outperform rating for the company in a research note on Thursday, March 14th. Finally, Cantor Fitzgerald started coverage on shares of Verastem in a research note on Wednesday, April 3rd. They issued an overweight rating and a $5.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $9.81.
Verastem (NASDAQ:VSTM) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). The firm had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.84 million. Verastem had a negative return on equity of 74.50% and a negative net margin of 315.21%. Sell-side analysts predict that Verastem will post -1.75 earnings per share for the current year.
In related news, Director Timothy J. Barberich purchased 33,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $3.21 per share, with a total value of $105,930.00. Following the completion of the purchase, the director now directly owns 168,000 shares in the company, valued at $539,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. bought a new position in shares of Verastem during the first quarter valued at approximately $30,000. Amalgamated Bank bought a new position in shares of Verastem during the fourth quarter valued at approximately $35,000. Principal Financial Group Inc. bought a new position in shares of Verastem during the fourth quarter valued at approximately $35,000. BNP Paribas Arbitrage SA bought a new position in shares of Verastem during the first quarter valued at approximately $42,000. Finally, Advisor Group Inc. increased its stake in shares of Verastem by 110.5% during the first quarter. Advisor Group Inc. now owns 18,406 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 9,664 shares in the last quarter. 59.07% of the stock is owned by institutional investors.
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.
Featured Story: What is Elliott Wave theory?
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.