Verastem (VSTM) Stock Price Down 5.4% on Analyst Downgrade

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Verastem Inc (NASDAQ:VSTM) traded down 5.4% on Thursday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The stock traded as low as $3.15 and last traded at $3.17. 3,763,545 shares changed hands during trading, an increase of 52% from the average session volume of 2,478,497 shares. The stock had previously closed at $3.35.

VSTM has been the subject of a number of other reports. ValuEngine cut Verastem from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Raymond James dropped their price target on Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday. BidaskClub upgraded Verastem from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target (down from $13.00) on shares of Verastem in a research note on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $12.97.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Verastem by 21.0% during the 4th quarter. BlackRock Inc. now owns 5,621,011 shares of the biopharmaceutical company’s stock worth $18,886,000 after purchasing an additional 976,123 shares during the last quarter. Vanguard Group Inc. raised its position in Verastem by 20.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,130,491 shares of the biopharmaceutical company’s stock worth $22,696,000 after purchasing an additional 532,484 shares during the last quarter. Vanguard Group Inc raised its position in Verastem by 20.5% during the 3rd quarter. Vanguard Group Inc now owns 3,130,491 shares of the biopharmaceutical company’s stock worth $22,696,000 after purchasing an additional 532,484 shares during the last quarter. Millennium Management LLC raised its position in Verastem by 2,376.5% during the 4th quarter. Millennium Management LLC now owns 1,248,037 shares of the biopharmaceutical company’s stock worth $4,193,000 after purchasing an additional 1,197,642 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in Verastem by 1,540.3% during the 4th quarter. Two Sigma Investments LP now owns 1,235,176 shares of the biopharmaceutical company’s stock worth $4,150,000 after purchasing an additional 1,159,874 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

The stock has a market capitalization of $239.08 million, a PE ratio of -2.31 and a beta of 3.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.97 and a quick ratio of 2.97.

Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.23. The company had revenue of $1.21 million for the quarter, compared to the consensus estimate of $5.56 million. Equities analysts predict that Verastem Inc will post -1.95 EPS for the current year.

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About Verastem (NASDAQ:VSTM)

Verastem, Inc, operating as Verastem Oncology, is 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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