Shares of Verastem Inc (NASDAQ:VSTM) have been assigned a consensus rating of “Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.19.
Several brokerages have issued reports on VSTM. HC Wainwright set a $10.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Thursday, March 15th. Cantor Fitzgerald set a $17.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Monday, April 9th. B. Riley set a $17.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Thursday, May 10th. Zacks Investment Research raised shares of Verastem from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Finally, ValuEngine raised shares of Verastem from a “buy” rating to a “strong-buy” rating in a research report on Monday.
In other news, VP Joseph M. Lobacki bought 7,700 shares of the stock in a transaction dated Friday, June 8th. The shares were acquired at an average price of $5.79 per share, with a total value of $44,583.00. Following the completion of the acquisition, the vice president now directly owns 7,700 shares in the company, valued at $44,583. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.06% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Artal Group S.A. boosted its holdings in shares of Verastem by 33.3% in the fourth quarter. Artal Group S.A. now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $3,070,000 after acquiring an additional 250,000 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in shares of Verastem in the fourth quarter valued at about $844,000. AXA boosted its holdings in shares of Verastem by 32.2% in the fourth quarter. AXA now owns 78,425 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 19,118 shares in the last quarter. BVF Inc. IL purchased a new stake in shares of Verastem in the fourth quarter valued at about $6,908,000. Finally, AWM Investment Company Inc. acquired a new stake in shares of Verastem in the fourth quarter valued at about $1,408,000. 25.63% of the stock is currently owned by institutional investors and hedge funds.
Verastem stock traded up $2.05 during midday trading on Friday, hitting $8.58. 21,341,300 shares of the company’s stock were exchanged, compared to its average volume of 1,352,367. Verastem has a 12-month low of $2.05 and a 12-month high of $8.75. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.45 and a current ratio of 4.45. The company has a market capitalization of $374.22 million, a P/E ratio of -4.88 and a beta of 2.28.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02). equities analysts expect that Verastem will post -1.48 earnings per share for the current year.
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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