Equities researchers at StockNews.com started coverage on shares of Verastem (NASDAQ:VSTM – Get Rating) in a research note issued to investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.
A number of other research analysts have also issued reports on VSTM. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Verastem in a report on Wednesday, March 15th. Royal Bank of Canada reissued an “outperform” rating and set a $3.00 target price on shares of Verastem in a research report on Wednesday, March 15th. Finally, Mizuho began coverage on shares of Verastem in a research report on Wednesday, March 29th. They set a “neutral” rating and a $2.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.80.
Verastem Stock Performance
Shares of VSTM opened at $0.45 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.29 and a current ratio of 4.29. The stock has a market capitalization of $89.56 million, a P/E ratio of -1.17 and a beta of 0.79. The company’s fifty day moving average is $0.42 and its two-hundred day moving average is $0.45. Verastem has a 1 year low of $0.29 and a 1 year high of $1.52.
Hedge Funds Weigh In On Verastem
Several large investors have recently added to or reduced their stakes in the company. Synovus Financial Corp lifted its stake in Verastem by 10.2% during the first quarter. Synovus Financial Corp now owns 108,000 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Verastem by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 460,493 shares of the biopharmaceutical company’s stock valued at $650,000 after buying an additional 11,090 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Verastem in the fourth quarter valued at $7,748,120,000. JPMorgan Chase & Co. lifted its stake in Verastem by 23.8% in the first quarter. JPMorgan Chase & Co. now owns 103,057 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 19,837 shares during the last quarter. Finally, Eaton Vance Management bought a new stake in Verastem in the first quarter valued at $28,000. 60.59% of the stock is currently owned by institutional investors.
Verastem Company Profile
Verastem, Inc is a biopharmaceutical company, which engages in the development and commercialization of drugs for the treatment of cancer. The company was founded by Richard H. Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric S. Lander, Robert F. Weinberg, and Christoph H. Westphal on August 4, 2010 and is headquartered in Needham, MA.
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