BVF Inc. IL purchased a new stake in Verastem (NASDAQ:VSTM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,250,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,908,000. BVF Inc. IL owned 4.65% of Verastem as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in Verastem during the fourth quarter worth $108,000. Spark Investment Management LLC bought a new position in Verastem during the fourth quarter worth $113,000. Cubist Systematic Strategies LLC bought a new position in Verastem during the third quarter worth $136,000. Wells Fargo & Company MN increased its position in Verastem by 130.5% during the fourth quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 26,036 shares during the period. Finally, Northern Trust Corp increased its position in Verastem by 40.3% during the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 21,178 shares during the period. 31.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of VSTM stock traded down $0.10 on Monday, reaching $2.88. The company had a trading volume of 477,683 shares, compared to its average volume of 651,282. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.13 and a quick ratio of 5.13. The stock has a market cap of $151.39, a PE ratio of -1.64 and a beta of 2.23. Verastem has a 12 month low of $1.61 and a 12 month high of $5.71.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Tuesday, March 13th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.01). research analysts anticipate that Verastem will post -1.45 earnings per share for the current year.
A number of equities research analysts have weighed in on the stock. HC Wainwright set a $10.00 price target on shares of Verastem and gave the stock a “buy” rating in a research note on Thursday, March 15th. Cann reiterated a “buy” rating and set a $15.00 price target (up previously from $6.00) on shares of Verastem in a research note on Sunday, December 10th. Oppenheimer reiterated a “buy” rating and set a $15.00 price target on shares of Verastem in a research note on Sunday, December 10th. Zacks Investment Research upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $17.00 target price on shares of Verastem in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $10.14.
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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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