Several other equities research analysts also recently weighed in on VSTM. Roth Capital lowered their target price on shares of Verastem from $14.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. BTIG Research downgraded shares of Verastem from a “buy” rating to a “neutral” rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. HC Wainwright restated a “buy” rating and issued a $2.50 target price on shares of Verastem in a research note on Friday, May 10th. Finally, Cantor Fitzgerald began coverage on shares of Verastem in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.46.
Shares of NASDAQ VSTM traded down $0.19 during midday trading on Thursday, reaching $1.40. 1,331,115 shares of the company’s stock traded hands, compared to its average volume of 1,289,089. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57. The stock’s 50 day moving average is $1.50. Verastem has a one year low of $1.16 and a one year high of $10.35. The stock has a market cap of $110.82 million, a P/E ratio of -1.02 and a beta of 2.94.
A number of institutional investors and hedge funds have recently made changes to their positions in VSTM. Stratos Wealth Partners LTD. purchased a new position in shares of Verastem in the first quarter worth $30,000. Amalgamated Bank purchased a new position in shares of Verastem in the fourth quarter worth $35,000. Principal Financial Group Inc. purchased a new position in shares of Verastem in the fourth quarter worth $35,000. BNP Paribas Arbitrage SA purchased a new position in shares of Verastem in the first quarter worth $42,000. Finally, MML Investors Services LLC raised its holdings in shares of Verastem by 70.0% in the fourth quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 7,000 shares during the last quarter. Institutional investors own 43.80% 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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