Verastem (NASDAQ:VSTM) Trading 9.9% Higher

Verastem Inc (NASDAQ:VSTM) shares traded up 9.9% on Thursday . The company traded as high as $1.58 and last traded at $1.55, 2,503,471 shares changed hands during trading. A decline of 1% from the average session volume of 2,524,263 shares. The stock had previously closed at $1.41.

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Verastem in a report on Wednesday, April 3rd. They set an “overweight” rating and a $5.00 target price on the stock. HC Wainwright set a $12.00 target price on shares of IMV and gave the stock a “buy” rating in a report on Friday, May 10th. Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, July 5th. BTIG Research boosted their target price on shares of Innovative Industrial Properties to $148.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Roth Capital set a $10.00 target price on shares of Savara and gave the stock a “hold” rating in a report on Tuesday, May 14th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.66.

The firm’s 50 day simple moving average is $1.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 7.57 and a quick ratio of 7.56. The stock has a market capitalization of $114.51 million, a P/E ratio of -1.13 and a beta of 2.98.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. The firm had revenue of $1.67 million during the quarter, compared to the consensus estimate of $2.84 million. On average, equities analysts forecast that Verastem Inc will post -1.97 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new position in Verastem during the fourth quarter worth $35,000. MML Investors Services LLC boosted its stake in Verastem by 70.0% during the fourth 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. Two Sigma Investments LP boosted its stake in Verastem by 1,540.3% during the fourth quarter. Two Sigma Investments LP now owns 1,235,176 shares of the biopharmaceutical company’s stock worth $4,150,000 after acquiring an additional 1,159,874 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Verastem by 98.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,085,135 shares of the biopharmaceutical company’s stock worth $3,646,000 after acquiring an additional 539,193 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Verastem by 16.0% during the fourth quarter. Advisory Services Network LLC now owns 32,375 shares of the biopharmaceutical company’s stock worth $109,000 after acquiring an additional 4,475 shares in the last quarter. 43.83% of the stock is currently owned by institutional investors and hedge funds.

About Verastem (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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