Verastem (NASDAQ:VSTM) had its price objective lowered by Roth Capital from $14.00 to $4.00 in a research note published on Tuesday, The Fly reports. Roth Capital currently has a buy rating on the biopharmaceutical company’s stock.
Several other analysts have also issued reports on the company. B. Riley reiterated a buy rating on shares of Verastem in a report on Thursday, May 9th. BTIG Research cut their price objective on Verastem to $8.00 and set a buy rating for the company in a report on Friday, May 10th. HC Wainwright reiterated a buy rating and set a $2.50 price objective on shares of Verastem in a report on Friday, May 10th. Raymond James lowered Verastem from an outperform rating to a market perform rating in a report on Friday, May 10th. Finally, ValuEngine lowered Verastem from a hold rating to a sell rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $8.69.
Shares of NASDAQ:VSTM opened at $1.50 on Tuesday. The company has a quick ratio of 7.56, a current ratio of 7.57 and a debt-to-equity ratio of 1.42. Verastem has a 1 year low of $1.20 and a 1 year high of $10.35. The firm has a market cap of $95.30 million, a P/E ratio of -1.09 and a beta of 2.83.
In related news, Director Timothy J. Barberich bought 33,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $3.21 per share, for a total transaction of $105,930.00. Following the completion of the acquisition, the director now directly owns 168,000 shares in the company, valued at $539,280. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC raised its holdings in Verastem by 68.9% during the third quarter. MetLife Investment Advisors LLC now owns 45,077 shares of the biopharmaceutical company’s stock valued at $327,000 after buying an additional 18,385 shares in the last quarter. Principal Financial Group Inc. bought a new position in Verastem during the fourth quarter valued at about $35,000. Creative Planning raised its holdings in Verastem by 43.7% during the fourth quarter. Creative Planning now owns 92,031 shares of the biopharmaceutical company’s stock valued at $309,000 after buying an additional 28,000 shares in the last quarter. Parallel Advisors LLC raised its holdings in Verastem by 84.6% during the fourth quarter. Parallel Advisors LLC now owns 24,000 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 11,000 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Verastem by 31.1% during the third quarter. BlackRock Inc. now owns 4,644,888 shares of the biopharmaceutical company’s stock valued at $33,676,000 after buying an additional 1,101,976 shares in the last quarter. Institutional investors own 58.00% of the company’s stock.
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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