Several other equities research analysts have also commented on the company. Cantor Fitzgerald upgraded Verastem from a neutral rating to an overweight rating and set a $2.00 price objective for the company in a research note on Wednesday, September 6th. Cann restated a buy rating and issued a $15.00 price objective (up from $6.00) on shares of Verastem in a research note on Sunday, December 10th. HC Wainwright restated a buy rating and issued a $10.00 price objective (up from $6.50) on shares of Verastem in a research note on Thursday, September 7th. Roth Capital started coverage on Verastem in a research note on Friday, December 1st. They issued a buy rating and a $12.00 price objective for the company. Finally, ValuEngine lowered Verastem from a hold rating to a sell rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Verastem currently has a consensus rating of Buy and a consensus target price of $9.78.
Shares of Verastem (NASDAQ:VSTM) opened at $2.99 on Thursday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $117.09, a price-to-earnings ratio of -1.82 and a beta of 2.15. Verastem has a 12 month low of $1.08 and a 12 month high of $5.71.
In related news, Director Timothy J. Barberich acquired 60,538 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was acquired at an average price of $3.95 per share, with a total value of $239,125.10. Following the acquisition, the director now directly owns 130,000 shares of the company’s stock, valued at $513,500. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 6.51% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new position in shares of Verastem during the 3rd quarter valued at about $136,000. Northern Trust Corp lifted its holdings in shares of Verastem by 40.3% in the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after acquiring an additional 21,178 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Verastem in the 3rd quarter valued at about $195,000. OxFORD Asset Management LLP bought a new position in shares of Verastem in the 2nd quarter valued at about $234,000. Finally, Susquehanna International Group LLP lifted its holdings in shares of Verastem by 137.1% in the 3rd quarter. Susquehanna International Group LLP now owns 75,526 shares of the biopharmaceutical company’s stock valued at $355,000 after acquiring an additional 43,675 shares during the last quarter. 34.24% of the stock is owned by institutional investors and hedge funds.
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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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