Verastem (NASDAQ:VSTM) had its price target decreased by Roth Capital from $14.00 to $4.00 in a report released on Tuesday, The Fly reports. Roth Capital currently has a buy rating on the biopharmaceutical company’s stock.
A number of other equities analysts have also recently weighed in on the company. B. Riley reissued a buy rating on shares of Verastem in a report on Thursday, May 9th. BTIG Research decreased their price objective on Verastem to $8.00 and set a buy rating on the stock in a report on Friday, May 10th. HC Wainwright reissued a buy rating and set a $2.50 price objective on shares of Verastem in a report on Friday, May 10th. Raymond James cut Verastem from an outperform rating to a market perform rating in a report on Friday, May 10th. Finally, ValuEngine cut Verastem from a hold rating to a sell rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $8.69.
Shares of NASDAQ VSTM opened at $1.53 on Tuesday. The stock has a market cap of $113.03 million, a P/E ratio of -1.12 and a beta of 2.83. The company has a debt-to-equity ratio of 1.42, a quick ratio of 7.56 and a current ratio of 7.57. Verastem has a 1-year low of $1.20 and a 1-year high of $10.35.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.05). The firm had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $2.84 million. Verastem had a negative net margin of 315.21% and a negative return on equity of 79.68%. As a group, equities analysts expect that Verastem will post -1.85 earnings per share for the current year.
In related news, Director Timothy J. Barberich purchased 33,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $3.21 per share, with a total value of $105,930.00. Following the purchase, the director now directly owns 168,000 shares of the company’s stock, valued at $539,280. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.10% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new position in Verastem in the 1st quarter worth approximately $82,000. Marshall Wace LLP purchased a new position in Verastem in the 1st quarter worth approximately $319,000. Renaissance Technologies LLC increased its stake in Verastem by 45.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,089,200 shares of the biopharmaceutical company’s stock worth $3,224,000 after purchasing an additional 339,500 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Verastem during the first quarter valued at approximately $62,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Verastem by 27.0% during the first quarter. Dynamic Technology Lab Private Ltd now owns 38,352 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 8,151 shares during the period. 58.00% of the stock is currently owned by institutional investors and hedge funds.
Verastem Company Profile
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.
Further Reading: Return on Equity (ROE)
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