Verastem (NASDAQ:VSTM) traded up 8.8% during mid-day trading on Thursday . The company traded as high as $3.78 and last traded at $4.10. 2,876,363 shares changed hands during trading, an increase of 265% from the average session volume of 789,113 shares. The stock had previously closed at $3.77.
A number of equities research analysts have issued reports on the company. Cantor Fitzgerald set a $17.00 price target on Verastem and gave the company a “buy” rating in a research note on Monday. Zacks Investment Research upgraded Verastem from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. B. Riley assumed coverage on Verastem in a research note on Thursday, March 8th. They set a “buy” rating and a $15.00 price target for the company. HC Wainwright set a $10.00 price target on Verastem and gave the company a “buy” rating in a research note on Thursday, March 15th. Finally, Oppenheimer set a $13.00 price objective on Verastem and gave the company a “buy” rating in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $10.14.
The company has a market cap of $174.25, a PE ratio of -2.35 and a beta of 2.23. The company has a quick ratio of 5.13, a current ratio of 5.13 and a debt-to-equity ratio of 0.26.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Tuesday, March 13th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.01). equities analysts expect that Verastem will post -1.45 EPS for the current year.
Several large investors have recently made changes to their positions in VSTM. Northern Trust Corp lifted its holdings in Verastem by 40.3% in the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 21,178 shares in the last quarter. Citadel Advisors LLC purchased a new position in Verastem in the 3rd quarter worth approximately $195,000. Dimensional Fund Advisors LP lifted its holdings in Verastem by 93.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock worth $2,641,000 after purchasing an additional 272,141 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Verastem in the 3rd quarter worth approximately $6,580,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Verastem in the 3rd quarter worth approximately $136,000. Institutional investors own 31.65% of the company’s stock.
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Verastem Company Profile
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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