Shares of Verastem Inc (NASDAQ:VSTM) traded up 3.4% during mid-day trading on Thursday . The stock traded as high as $7.12 and last traded at $6.77. 131,431 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,990,236 shares. The stock had previously closed at $7.01.
Several analysts recently issued reports on the company. BidaskClub downgraded Verastem from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Raymond James boosted their price target on Verastem from $7.00 to $12.00 in a research note on Friday, August 10th. BTIG Research assumed coverage on Verastem in a research note on Friday, July 13th. They issued a “buy” rating and a $17.00 price target for the company. Cann restated a “buy” rating and issued a $16.00 price target on shares of Verastem in a research note on Monday, July 9th. Finally, B. Riley set a $17.00 target price on Verastem and gave the company a “buy” rating in a research report on Saturday, June 9th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.40.
The stock has a market cap of $533.54 million, a price-to-earnings ratio of -4.03 and a beta of 2.76. The company has a quick ratio of 7.70, a current ratio of 7.70 and a debt-to-equity ratio of 0.19.
In related news, Director Michael Kauffman bought 4,000 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was purchased at an average cost of $7.49 per share, for a total transaction of $29,960.00. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $29,960. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert Forrester bought 10,500 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were bought at an average price of $7.00 per share, with a total value of $73,500.00. Following the completion of the transaction, the chief executive officer now owns 209,234 shares in the company, valued at approximately $1,464,638. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 19,500 shares of company stock valued at $139,420. Corporate insiders own 7.06% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System bought a new stake in shares of Verastem during the 2nd quarter worth $100,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Verastem during the 2nd quarter worth $130,000. Voya Investment Management LLC bought a new stake in shares of Verastem during the 2nd quarter worth $139,000. Element Capital Management LLC bought a new stake in shares of Verastem during the 1st quarter worth $170,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Verastem during the 2nd quarter worth $184,000. Hedge funds and other institutional investors own 43.46% of the company’s stock.
Verastem Company Profile (NASDAQ:VSTM)
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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