Verastem (NASDAQ:VSTM) Stock Price Down 5.3%

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Shares of Verastem Inc (NASDAQ:VSTM) fell 5.3% during trading on Friday . The stock traded as low as $0.88 and last traded at $0.90, 1,550,600 shares changed hands during trading. A decline of 18% from the average session volume of 1,890,377 shares. The stock had previously closed at $0.95.

Several brokerages have recently commented on VSTM. B. Riley set a $9.00 price target on shares of Verastem and gave the stock a “buy” rating in a research report on Friday, August 2nd. ValuEngine cut shares of Verastem from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Verastem presently has a consensus rating of “Hold” and a consensus target price of $5.46.

The stock has a market cap of $70.29 million, a price-to-earnings ratio of -0.66 and a beta of 2.90. The company has a quick ratio of 5.46, a current ratio of 5.47 and a debt-to-equity ratio of 6.49. The firm’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.37.

A number of large investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its holdings in Verastem by 43.2% during the second quarter. Commonwealth Equity Services LLC now owns 26,697 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 8,054 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Verastem by 3,040.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,589 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 17,029 shares during the period. Marshall Wace North America L.P. acquired a new position in Verastem in the 1st quarter worth approximately $62,000. Wells Fargo & Company MN boosted its stake in Verastem by 51.2% in the 2nd quarter. Wells Fargo & Company MN now owns 141,401 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 47,905 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in Verastem by 652.1% in the 2nd quarter. GSA Capital Partners LLP now owns 99,057 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 85,887 shares during the period. Hedge funds and other institutional investors own 37.11% of the company’s stock.

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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