Shares of Verastem Inc (NASDAQ:VSTM) fell 8.1% during trading on Friday . The stock traded as low as $3.71 and last traded at $3.72. 3,150,669 shares were traded during mid-day trading, an increase of 23% from the average session volume of 2,567,059 shares. The stock had previously closed at $4.05.
Several research firms recently commented on VSTM. BidaskClub upgraded shares of Verastem from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Verastem from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. ValuEngine cut shares of Verastem from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Roth Capital set a $14.00 price objective on shares of Verastem and gave the company a “buy” rating in a research note on Friday, November 9th. Finally, HC Wainwright set a $15.00 price objective on shares of Verastem and gave the company a “buy” rating in a research note on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $14.78.
The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.20. The company has a market cap of $301.81 million, a PE ratio of -2.11 and a beta of 3.21.
Several large investors have recently bought and sold shares of VSTM. Sei Investments Co. grew its stake in shares of Verastem by 17,373.4% during the 2nd quarter. Sei Investments Co. now owns 121,440 shares of the biopharmaceutical company’s stock worth $836,000 after purchasing an additional 120,745 shares during the period. Rhumbline Advisers acquired a new position in shares of Verastem during the 2nd quarter worth $344,000. Bank of New York Mellon Corp grew its stake in shares of Verastem by 820.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 352,720 shares of the biopharmaceutical company’s stock worth $2,426,000 after purchasing an additional 314,401 shares during the period. Schwab Charles Investment Management Inc. acquired a new position in shares of Verastem during the 2nd quarter worth $787,000. Finally, BlackRock Inc. grew its stake in shares of Verastem by 240.6% during the 2nd quarter. BlackRock Inc. now owns 3,542,912 shares of the biopharmaceutical company’s stock worth $24,376,000 after purchasing an additional 2,502,853 shares during the period. 48.83% of the stock is currently owned by institutional investors and hedge funds.
WARNING: This piece was originally published by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://dakotafinancialnews.com/2019/01/12/verastem-vstm-trading-down-8-1.html.
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.
Featured Story: How to Invest in the Dividend Aristocrat Index
Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.