Verastem (VSTM) Trading Down 7.2%

Verastem, Inc. (NASDAQ:VSTM) traded down 7.2% during mid-day trading on Tuesday . The company traded as low as $3.78 and last traded at $3.84. 724,600 shares were traded during trading, a decline of 5% from the average session volume of 761,217 shares. The stock had previously closed at $4.14.

A number of equities research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective (up from $6.50) on shares of Verastem in a report on Thursday, September 7th. Oppenheimer restated a “buy” rating and issued a $6.00 price target on shares of Verastem in a research report on Thursday, October 12th. Cantor Fitzgerald set a $17.00 price target on Verastem and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Roth Capital started coverage on Verastem in a research report on Friday, December 1st. They issued a “buy” rating and a $12.00 price target for the company. Finally, ValuEngine downgraded Verastem from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $7.78.

The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.06.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.29). research analysts forecast that Verastem, Inc. will post -1.74 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of VSTM. Renaissance Technologies LLC grew its stake in Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock valued at $2,539,000 after purchasing an additional 204,400 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new position in Verastem in the second quarter valued at about $109,000. Artal Group S.A. purchased a new position in Verastem in the second quarter valued at about $1,090,000. Northern Trust Corp grew its stake in Verastem by 40.3% in the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 21,178 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Verastem by 10.3% during the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after acquiring an additional 107,029 shares during the last quarter. Institutional investors own 34.24% of the company’s stock.

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Verastem Company Profile

Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.

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