Verastem Inc (NASDAQ:VSTM) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.32 and last traded at $2.42, with a volume of 3250674 shares. The stock had previously closed at $2.63.
Several research firms recently issued reports on VSTM. Zacks Investment Research downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. ValuEngine downgraded shares of Verastem from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Cantor Fitzgerald began coverage on shares of Verastem in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $5.00 price target on the stock. Raymond James dropped their price target on shares of Verastem from $12.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, March 14th. Finally, HC Wainwright dropped their price target on shares of Verastem from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Verastem presently has a consensus rating of “Buy” and an average price target of $11.64.
The company has a market capitalization of $193.57 million, a PE ratio of -1.73 and a beta of 3.03. The company has a debt-to-equity ratio of 0.92, a quick ratio of 6.82 and a current ratio of 6.83.
Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.23. The firm had revenue of $1.21 million for the quarter, compared to analysts’ expectations of $5.56 million. As a group, analysts predict that Verastem Inc will post -1.75 earnings per share for the current year.
In related news, Director Timothy J. Barberich acquired 33,000 shares of the firm’s stock in a transaction 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 acquisition, the director now directly owns 168,000 shares in the company, valued at $539,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Amalgamated Bank acquired a new position in Verastem during the 4th quarter worth $35,000. Principal Financial Group Inc. acquired a new position in Verastem during the 4th quarter worth $35,000. HRT Financial LLC acquired a new position in Verastem during the 3rd quarter worth $109,000. Pacer Advisors Inc. acquired a new position in shares of Verastem in the 3rd quarter valued at about $123,000. Finally, MML Investors Services LLC boosted its holdings in shares of Verastem by 70.0% in the 4th quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 7,000 shares during the period. 59.15% of the stock is owned by institutional investors.
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About Verastem (NASDAQ:VSTM)
Verastem, Inc, operating as Verastem Oncology, is 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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