Vanguard Group Inc. Grows Position in Verastem, Inc. (NASDAQ:VSTM)

Vanguard Group Inc. increased its holdings in shares of Verastem, Inc. (NASDAQ:VSTM) by 0.9% in the first quarter, Holdings Channel reports. The firm owned 1,160,931 shares of the biopharmaceutical company’s stock after buying an additional 10,678 shares during the period. Vanguard Group Inc.’s holdings in Verastem were worth $13,699,000 at the end of the most recent quarter.

Separately, Cannon Global Investment Management LLC acquired a new stake in Verastem in the 1st quarter valued at approximately $131,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Trading Up 7.3 %

Shares of NASDAQ:VSTM opened at $2.49 on Wednesday. The company has a market cap of $63.07 million, a PE ratio of -0.57 and a beta of 0.20. The company’s 50 day moving average is $3.02 and its two-hundred day moving average is $8.19. Verastem, Inc. has a 52 week low of $2.10 and a 52 week high of $14.22. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The business had revenue of $10.00 million for the quarter. Equities analysts predict that Verastem, Inc. will post -4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VSTM has been the topic of a number of research reports. B. Riley decreased their price target on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Truist Financial cut their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Royal Bank of Canada lowered their price objective on shares of Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. HC Wainwright cut their target price on shares of Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a research note on Monday. Finally, StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Verastem presently has an average rating of “Moderate Buy” and a consensus target price of $17.86.

Verastem Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.