Stonepine Capital Management LLC Has $4.50 Million Stock Position in Verastem, Inc. (NASDAQ:VSTM)

Stonepine Capital Management LLC lessened its position in Verastem, Inc. (NASDAQ:VSTM) by 33.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 870,000 shares of the biopharmaceutical company’s stock after selling 440,287 shares during the period. Verastem comprises approximately 3.6% of Stonepine Capital Management LLC’s holdings, making the stock its 6th biggest holding. Stonepine Capital Management LLC’s holdings in Verastem were worth $4,498,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in VSTM. Sherbrooke Park Advisers LLC bought a new position in shares of Verastem in the fourth quarter valued at about $61,000. ProShare Advisors LLC bought a new position in Verastem in the 4th quarter valued at $56,000. Nuveen Asset Management LLC lifted its position in Verastem by 47.2% during the 4th quarter. Nuveen Asset Management LLC now owns 50,633 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 16,234 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Verastem by 41.3% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 608,524 shares of the biopharmaceutical company’s stock worth $3,146,000 after purchasing an additional 177,855 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Verastem in the fourth quarter valued at about $196,000. Institutional investors own 88.37% of the company’s stock.

Verastem Price Performance

Verastem stock opened at $7.59 on Friday. The business’s 50 day simple moving average is $6.42 and its 200 day simple moving average is $5.60. Verastem, Inc. has a 12 month low of $2.10 and a 12 month high of $12.45. The company has a market cap of $417.06 million, a price-to-earnings ratio of -2.38 and a beta of 0.85. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.24). Sell-side analysts forecast that Verastem, Inc. will post -3.02 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. B. Riley increased their target price on shares of Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Guggenheim raised their price target on shares of Verastem from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Mizuho cut their price target on shares of Verastem from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group started coverage on Verastem in a research report on Thursday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Royal Bank of Canada cut their price target on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, March 21st. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat, Verastem presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Verastem Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.