Verastem (VSTM) Shares Up 5.7%

Shares of Verastem (NASDAQ:VSTM) shot up 5.7% during mid-day trading on Friday . The stock traded as high as $5.05 and last traded at $5.02. 2,389,232 shares were traded during mid-day trading, an increase of 156% from the average session volume of 932,884 shares. The stock had previously closed at $4.75.

Several research firms have recently issued reports on VSTM. BidaskClub upgraded shares of Verastem from a “hold” rating to a “buy” rating in a research note on Monday. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Verastem in a research note on Thursday, May 3rd. B. Riley set a $17.00 target price on shares of Verastem and gave the stock a “buy” rating in a research note on Thursday, May 10th. ValuEngine upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. Finally, Cantor Fitzgerald set a $17.00 target price on shares of Verastem and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $11.25.

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The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $264.19 million, a price-to-earnings ratio of -2.85 and a beta of 2.18.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.02). analysts anticipate that Verastem will post -1.47 EPS for the current year.

Several large investors have recently modified their holdings of VSTM. Dimensional Fund Advisors LP boosted its holdings in shares of Verastem by 93.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock worth $2,641,000 after buying an additional 272,141 shares during the last quarter. Omni Partners LLP purchased a new position in shares of Verastem in the 4th quarter worth about $205,000. Alambic Investment Management L.P. purchased a new position in shares of Verastem in the 4th quarter worth about $534,000. SeaCrest Wealth Management LLC purchased a new position in shares of Verastem in the 4th quarter worth about $108,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Verastem by 130.5% in the 4th quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 26,036 shares during the last quarter. 30.19% of the stock is currently owned by institutional investors.

Verastem Company Profile

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.