Verastem Inc (NASDAQ:VSTM) rose 7.8% during mid-day trading on Wednesday . The stock traded as high as $1.43 and last traded at $1.39, approximately 1,229,411 shares changed hands during trading. A decline of 46% from the average daily volume of 2,288,216 shares. The stock had previously closed at $1.29.
VSTM has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $2.50 target price on shares of Verastem in a research note on Friday, May 10th. Roth Capital cut their target price on shares of Verastem from $14.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. BTIG Research lowered shares of Verastem from a “buy” rating to a “neutral” rating in a research note on Thursday, June 20th. B. Riley set a $9.00 price objective on shares of Verastem and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research raised shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.46.
The stock has a market capitalization of $103.06 million, a P/E ratio of -1.01 and a beta of 2.94. The business’s 50 day simple moving average is $1.39 and its two-hundred day simple moving average is $2.11. The company has a quick ratio of 6.15, a current ratio of 6.16 and a debt-to-equity ratio of 2.79.
Several institutional investors have recently added to or reduced their stakes in VSTM. Price T Rowe Associates Inc. MD boosted its stake in Verastem by 467.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 258,300 shares of the biopharmaceutical company’s stock worth $390,000 after purchasing an additional 212,772 shares during the period. Jane Street Group LLC bought a new position in Verastem in the 2nd quarter worth approximately $286,000. Morgan Stanley boosted its stake in Verastem by 175.1% in the 2nd quarter. Morgan Stanley now owns 467,873 shares of the biopharmaceutical company’s stock worth $706,000 after purchasing an additional 297,778 shares during the period. Paloma Partners Management Co boosted its stake in Verastem by 366.3% in the 2nd quarter. Paloma Partners Management Co now owns 208,400 shares of the biopharmaceutical company’s stock worth $315,000 after purchasing an additional 163,711 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Verastem in the 2nd quarter worth approximately $204,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.
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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