Verastem Inc (NASDAQ:VSTM) was the target of a significant decrease in short interest in March. As of March 29th, there was short interest totalling 16,839,750 shares, a decrease of 30.4% from the March 15th total of 24,185,220 shares. Based on an average trading volume of 2,899,002 shares, the days-to-cover ratio is currently 5.8 days. Currently, 24.8% of the company’s stock are short sold.
Several research firms have weighed in on VSTM. BidaskClub upgraded shares of Verastem from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 9th. Zacks Investment Research downgraded shares of Verastem from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. HC Wainwright lowered their target price on shares of Verastem from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Finally, Raymond James lowered their target price on shares of Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $11.64.
In related news, Director Timothy J. Barberich bought 33,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $3.21 per share, with a total value of $105,930.00. Following the completion of the purchase, the director now directly owns 168,000 shares in the company, valued at $539,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by corporate insiders.
NASDAQ:VSTM traded down $0.03 on Friday, reaching $2.03. 1,911,809 shares of the company’s stock were exchanged, compared to its average volume of 2,588,450. The company has a quick ratio of 6.82, a current ratio of 6.83 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $149.97 million, a PE ratio of -1.48 and a beta of 2.84. Verastem has a 52 week low of $1.96 and a 52 week high of $10.35.
Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.23. The business had revenue of $1.21 million for the quarter, compared to the consensus estimate of $5.56 million. Analysts anticipate that Verastem will post -1.75 earnings per share for the current fiscal year.
Verastem Company Profile
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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