Verastem Inc (NASDAQ:VSTM) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 18,654,118 shares, an increase of 13.1% from the October 15th total of 16,498,651 shares. Based on an average daily trading volume, of 2,428,622 shares, the short-interest ratio is currently 7.7 days. Currently, 26.0% of the company’s shares are short sold.
NASDAQ:VSTM opened at $5.51 on Friday. The company has a quick ratio of 7.70, a current ratio of 7.70 and a debt-to-equity ratio of 0.19. The stock has a market cap of $374.58 million, a PE ratio of -3.13 and a beta of 3.14. Verastem has a one year low of $2.77 and a one year high of $10.35.
Verastem (NASDAQ:VSTM) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.14. The business had revenue of $15.51 million for the quarter. On average, equities analysts predict that Verastem will post -1.64 earnings per share for the current fiscal year.
In related news, CEO Robert Forrester purchased 10,500 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was purchased at an average cost of $7.00 per share, with a total value of $73,500.00. Following the completion of the purchase, the chief executive officer now owns 209,234 shares in the company, valued at approximately $1,464,638. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Kauffman purchased 4,000 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was bought at an average cost of $7.49 per share, with a total value of $29,960.00. Following the completion of the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $29,960. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 19,500 shares of company stock worth $139,420. 6.51% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of Verastem by 7.9% during the third quarter. Wells Fargo & Company MN now owns 139,162 shares of the biopharmaceutical company’s stock worth $1,010,000 after acquiring an additional 10,157 shares in the last quarter. American International Group Inc. increased its position in shares of Verastem by 32.4% during the third quarter. American International Group Inc. now owns 45,584 shares of the biopharmaceutical company’s stock worth $330,000 after acquiring an additional 11,151 shares in the last quarter. Creative Planning increased its position in shares of Verastem by 30.1% during the second quarter. Creative Planning now owns 58,550 shares of the biopharmaceutical company’s stock worth $403,000 after acquiring an additional 13,550 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Verastem during the second quarter worth about $100,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Verastem during the second quarter worth about $130,000. 43.40% of the stock is owned by institutional investors.
Several research firms have weighed in on VSTM. ValuEngine raised shares of Verastem from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. HC Wainwright set a $15.00 price target on shares of Verastem and gave the company a “buy” rating in a research note on Thursday. BidaskClub downgraded shares of Verastem from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Zacks Investment Research raised shares of Verastem from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Friday, July 20th. Finally, Raymond James lifted their price target on shares of Verastem from $7.00 to $12.00 in a research note on Friday, August 10th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $14.60.
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.
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