Verastem (VSTM) Stock Price Down 6.9%

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Verastem Inc (NASDAQ:VSTM) was down 6.9% during trading on Friday . The company traded as low as $3.20 and last traded at $3.24. Approximately 2,417,358 shares changed hands during trading, a decline of 15% from the average daily volume of 2,856,110 shares. The stock had previously closed at $3.48.

A number of equities research analysts have recently commented on VSTM shares. BidaskClub cut shares of Verastem from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 16th. Zacks Investment Research lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine lowered shares of Verastem from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Raymond James reduced their price target 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. Finally, HC Wainwright reduced their price target 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. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $12.97.

The company has a market cap of $239.32 million, a P/E ratio of -2.36 and a beta of 3.04. The company has a current ratio of 6.83, a quick ratio of 6.82 and a debt-to-equity ratio of 0.92.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.23. The firm had revenue of $1.21 million for the quarter, compared to the consensus estimate of $5.56 million. As a group, equities analysts predict that Verastem Inc will post -1.86 EPS for the current fiscal year.

In other Verastem news, Director Timothy J. Barberich acquired 33,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were acquired at an average price of $3.21 per share, for a total transaction of $105,930.00. Following the completion of the acquisition, the director now owns 168,000 shares in the company, valued at $539,280. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank bought a new position in shares of Verastem in the fourth quarter worth $35,000. Principal Financial Group Inc. acquired a new position in shares of Verastem in the 4th quarter valued at $35,000. MML Investors Services LLC lifted its stake in Verastem by 70.0% in the 4th quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 7,000 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Verastem in the 4th quarter worth about $62,000. Finally, GSA Capital Partners LLP purchased a new stake in Verastem in the 4th quarter worth about $62,000. Institutional investors and hedge funds own 59.15% of the company’s stock.

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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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