Verastem (NASDAQ:VSTM) Trading Up 10.2%
Verastem Inc (NASDAQ:VSTM)’s stock price was up 10.2% on Friday . The stock traded as high as $1.45 and last traded at $1.40. Approximately 2,766,300 shares traded hands during trading, an increase of 12% from the average daily volume of 2,471,182 shares. The stock had previously closed at $1.27.
Several equities analysts have recently weighed in on VSTM shares. HC Wainwright cut 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. Raymond James cut 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. Zacks Investment Research lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Cantor Fitzgerald started coverage on shares of Verastem in a report on Wednesday, April 3rd. They set an “overweight” rating and a $5.00 target price for the company. Finally, ValuEngine lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $7.66.
The firm has a market capitalization of $93.82 million, a P/E ratio of -1.02 and a beta of 3.01. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new position in Verastem in the first quarter valued at approximately $62,000. Marshall Wace LLP purchased a new position in Verastem in the first quarter valued at approximately $319,000. BlueCrest Capital Management Ltd purchased a new position in Verastem in the first quarter valued at approximately $82,000. Renaissance Technologies LLC increased its stake in Verastem by 45.3% in the first quarter. Renaissance Technologies LLC now owns 1,089,200 shares of the biopharmaceutical company’s stock valued at $3,224,000 after purchasing an additional 339,500 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Verastem by 27.0% in the first quarter. Dynamic Technology Lab Private Ltd now owns 38,352 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 8,151 shares during the last quarter. 43.83% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Verastem (NASDAQ:VSTM) Trading Up 10.2%” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/verastem-nasdaqvstm-trading-up-10-2/3043156.html.
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.
Featured Story: What is the Dividend Aristocrat Index?
Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.