Shares of Verastem Inc (NASDAQ:VSTM) were down 5.6% during trading on Tuesday . The company traded as low as $2.83 and last traded at $2.84. Approximately 2,628,618 shares were traded during trading, a decline of 4% from the average daily volume of 2,728,496 shares. The stock had previously closed at $3.01.

VSTM has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “strong-buy” rating and set a $4.00 target price on the stock in a report on Saturday, January 19th. HC Wainwright decreased their price target on shares of Verastem from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. BidaskClub downgraded shares of Verastem from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 16th. Finally, Cantor Fitzgerald initiated coverage on shares of Verastem in a research report on Wednesday, April 3rd. They issued an “overweight” rating and a $5.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Verastem currently has a consensus rating of “Buy” and a consensus target price of $11.64.

The firm has a market capitalization of $222.50 million, a PE ratio of -2.07 and a beta of 3.03. The company has a quick ratio of 6.82, a current ratio of 6.83 and a debt-to-equity ratio of 0.92.

Verastem (NASDAQ:VSTM) last released its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.23. The business had revenue of $1.21 million during the quarter, compared to analyst estimates of $5.56 million. Research analysts forecast that Verastem Inc will post -1.84 earnings per share for the current fiscal year.

In other Verastem news, Director Timothy J. Barberich purchased 33,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $3.21 per share, with a total value of $105,930.00. Following the purchase, the director now owns 168,000 shares in the company, valued at $539,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of VSTM. Principal Financial Group Inc. purchased a new stake in shares of Verastem during the 4th quarter valued at about $35,000. Amalgamated Bank acquired a new stake in Verastem during the 4th quarter valued at $35,000. MML Investors Services LLC grew its holdings in Verastem by 70.0% during the 4th quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 7,000 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Verastem during the 4th quarter worth $62,000. Finally, Blueshift Asset Management LLC purchased a new stake in Verastem during the 4th quarter worth $62,000. 59.15% of the stock is owned by institutional investors.

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About Verastem (NASDAQ:VSTM)

Verastem, Inc, operating as Verastem Oncology, is 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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