Verastem (VSTM) Stock Price Down 8.1%

Verastem Inc (NASDAQ:VSTM) was down 8.1% on Friday . The company traded as low as $3.71 and last traded at $3.72. Approximately 3,150,669 shares changed hands during trading, an increase of 23% from the average daily volume of 2,567,059 shares. The stock had previously closed at $4.05.

A number of equities research analysts have weighed in on VSTM shares. ValuEngine upgraded shares of Verastem from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 7th. HC Wainwright lifted their price target on shares of Verastem to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. Roth Capital set a $14.00 price target on shares of Verastem and gave the company a “buy” rating in a research report on Friday, November 9th. BidaskClub cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 11th. Finally, BTIG Research set a $17.00 price objective on shares of Verastem and gave the company a “buy” rating in a report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.78.

The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.20. The firm has a market cap of $301.81 million, a price-to-earnings ratio of -2.11 and a beta of 3.21.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.14. The business had revenue of $15.51 million during the quarter. As a group, research analysts forecast that Verastem Inc will post -1.4 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. HRT Financial LLC acquired a new position in Verastem during the 3rd quarter worth approximately $109,000. Pacer Advisors Inc. acquired a new position in Verastem during the 3rd quarter worth approximately $123,000. B. Riley Wealth Management Inc. acquired a new position in Verastem during the 3rd quarter worth approximately $127,000. Metropolitan Life Insurance Co. NY acquired a new position in Verastem during the 2nd quarter worth approximately $130,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Verastem during the 2nd quarter worth approximately $139,000. Hedge funds and other institutional investors own 48.83% of the company’s stock.

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Verastem Company Profile (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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