Torray Investment Partners LLC Invests $1.67 Million in Verastem, Inc. $VSTM

Torray Investment Partners LLC acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) in the 4th quarter, Holdings Channel reports. The fund acquired 216,387 shares of the biopharmaceutical company’s stock, valued at approximately $1,671,000.

Several other institutional investors have also modified their holdings of VSTM. AQR Capital Management LLC raised its position in Verastem by 78.2% in the 1st quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 27,477 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Verastem by 236.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock valued at $4,561,000 after purchasing an additional 531,873 shares during the last quarter. Geode Capital Management LLC raised its position in Verastem by 24.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock valued at $4,978,000 after purchasing an additional 238,995 shares during the last quarter. Rhumbline Advisers raised its position in Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 9,594 shares during the last quarter. Finally, Invesco Ltd. raised its position in Verastem by 40.0% in the 2nd quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 14,879 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VSTM. Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 price target (down from $19.00) on shares of Verastem in a research report on Monday, March 30th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Verastem in a research report on Friday, April 10th. Mizuho set a $18.00 price target on shares of Verastem in a research report on Thursday, February 19th. Guggenheim reiterated a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Verastem Price Performance

Shares of NASDAQ:VSTM traded down $0.03 on Thursday, reaching $6.04. 187,318 shares of the company were exchanged, compared to its average volume of 1,953,884. The company has a current ratio of 3.09, a quick ratio of 3.07 and a debt-to-equity ratio of 1.33. Verastem, Inc. has a 1-year low of $4.01 and a 1-year high of $11.24. The firm has a market cap of $530.64 million, a price-to-earnings ratio of -1.90 and a beta of 0.43. The company has a 50-day moving average of $5.76 and a 200-day moving average of $7.36.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The company had revenue of $17.54 million for the quarter, compared to analysts’ expectations of $16.85 million. Equities analysts forecast that Verastem, Inc. will post -1.66 earnings per share for the current fiscal year.

About Verastem

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.