Verastem (VSTM) Reaches New 52-Week Low at $2.32

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Verastem Inc (NASDAQ:VSTM) reached a new 52-week low on Monday . The company traded as low as $2.32 and last traded at $2.42, with a volume of 3250674 shares. The stock had previously closed at $2.63.

A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Verastem from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Zacks Investment Research downgraded shares of Verastem from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. HC Wainwright dropped their price target on shares of Verastem from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Finally, Raymond James dropped their price target on shares of Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Verastem presently has a consensus rating of “Buy” and an average price target of $11.64.

The company has a current ratio of 6.83, a quick ratio of 6.82 and a debt-to-equity ratio of 0.92. The company has a market cap of $175.09 million, a P/E ratio of -1.73 and a beta of 3.03.

Verastem (NASDAQ:VSTM) last issued 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 firm had revenue of $1.21 million during the quarter, compared to the consensus estimate of $5.56 million. As a group, equities analysts predict that Verastem Inc will post -1.75 earnings per share for the current fiscal year.

In other news, Director Timothy J. Barberich bought 33,000 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $3.21 per share, with a total value of $105,930.00. Following the completion of the purchase, 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 accessible through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Verastem in the fourth quarter valued at approximately $35,000. Amalgamated Bank acquired a new position in Verastem during the fourth quarter worth $35,000. MML Investors Services LLC boosted its holdings in Verastem by 70.0% during the fourth quarter. MML Investors Services LLC now owns 17,000 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 7,000 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Verastem during the fourth quarter worth $62,000. Finally, Blueshift Asset Management LLC acquired a new position in Verastem during the fourth quarter worth $62,000. Institutional investors own 59.15% 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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