Verastem Inc (NASDAQ:VSTM)’s share price fell 7.4% during mid-day trading on Thursday . The company traded as low as $1.38 and last traded at $1.38. 1,577,313 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 2,627,613 shares. The stock had previously closed at $1.49.

A number of brokerages recently issued reports on VSTM. Zacks Investment Research lowered Verastem from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. HC Wainwright cut their target price on Verastem from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Raymond James cut their target price on Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, March 14th. Cantor Fitzgerald started coverage on Verastem in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 target price for the company. Finally, ValuEngine downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Three investment 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. Verastem currently has a consensus rating of “Hold” and an average price target of $8.69.

The stock has a market capitalization of $104.91 million, a price-to-earnings ratio of -1.01 and a beta of 2.83. The company has a debt-to-equity ratio of 1.42, a current ratio of 7.57 and a quick ratio of 7.56.

Verastem (NASDAQ:VSTM) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). The firm had revenue of $1.67 million during the quarter, compared to analyst estimates of $2.84 million. Verastem had a negative return on equity of 79.68% and a negative net margin of 315.21%. As a group, research analysts forecast that Verastem Inc will post -1.96 EPS for the current fiscal year.

In related news, Director Timothy J. Barberich acquired 33,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $3.21 per share, for a total transaction of $105,930.00. Following the transaction, the director now owns 168,000 shares of the company’s stock, valued at $539,280. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in VSTM. Millennium Management LLC lifted its position in shares of Verastem by 2,376.5% during the 4th quarter. Millennium Management LLC now owns 1,248,037 shares of the biopharmaceutical company’s stock valued at $4,193,000 after acquiring an additional 1,197,642 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Verastem by 1,540.3% during the 4th quarter. Two Sigma Investments LP now owns 1,235,176 shares of the biopharmaceutical company’s stock valued at $4,150,000 after acquiring an additional 1,159,874 shares during the last quarter. BlackRock Inc. lifted its position in shares of Verastem by 21.0% during the 4th quarter. BlackRock Inc. now owns 5,621,011 shares of the biopharmaceutical company’s stock valued at $18,886,000 after acquiring an additional 976,123 shares during the last quarter. Citigroup Inc. lifted its position in shares of Verastem by 246.4% during the 4th quarter. Citigroup Inc. now owns 908,904 shares of the biopharmaceutical company’s stock valued at $3,054,000 after acquiring an additional 646,545 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Verastem by 98.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,085,135 shares of the biopharmaceutical company’s stock valued at $3,646,000 after acquiring an additional 539,193 shares during the last quarter. Institutional investors own 54.88% of the company’s stock.

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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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