Verastem (VSTM) Shares Up 1.3%

Shares of Verastem Inc (NASDAQ:VSTM) shot up 1.3% on Wednesday . The stock traded as high as $1.57 and last traded at $1.52. 26,461 shares were traded during trading, a decline of 99% from the average session volume of 2,411,202 shares. The stock had previously closed at $1.50.

Several brokerages have weighed in on VSTM. Roth Capital decreased their price objective on shares of Verastem from $14.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday. B. Riley restated a “buy” rating on shares of Verastem in a research report on Thursday, May 9th. Raymond James dropped their target price on shares of Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, March 14th. HC Wainwright dropped their target price on shares of Verastem from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Finally, Zacks Investment Research cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.69.

The firm has a market cap of $95.30 million, a PE ratio of -1.12 and a beta of 2.83. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.05). The company had revenue of $1.67 million for the quarter, compared to the consensus estimate of $2.84 million. Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. On average, equities analysts predict that Verastem Inc will post -1.8 EPS 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 shares were bought at an average cost of $3.21 per share, with a total value of $105,930.00. Following the acquisition, the director now owns 168,000 shares of the company’s stock, valued at approximately $539,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VSTM. Marshall Wace LLP bought a new position in Verastem during the first quarter valued at about $319,000. Renaissance Technologies LLC grew its position in Verastem by 45.3% during the first quarter. Renaissance Technologies LLC now owns 1,089,200 shares of the biopharmaceutical company’s stock valued at $3,224,000 after buying an additional 339,500 shares during the period. Marshall Wace North America L.P. bought a new position in Verastem during the first quarter valued at about $62,000. Dynamic Technology Lab Private Ltd grew its position in Verastem by 27.0% during the first quarter. Dynamic Technology Lab Private Ltd now owns 38,352 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 8,151 shares during the period. Finally, State of Wisconsin Investment Board grew its position in Verastem by 29.6% during the first quarter. State of Wisconsin Investment Board now owns 92,300 shares of the biopharmaceutical company’s stock valued at $273,000 after buying an additional 21,100 shares during the period. Hedge funds and other institutional investors own 58.00% of the company’s stock.

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Verastem Company Profile (NASDAQ:VSTM)

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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