Key Points
- Director Paul Bunn sold 6,250 shares on November 21 at an average of $10.00 for $62,500, trimming his ownership by 75% to 2,083 shares, according to an SEC filing.
- Verastem missed Q earnings with EPS of ($1.35) versus a ($0.51) estimate but reported revenue of $11.24M (above the $5.76M estimate); the firm is forecast to post about −3.02 EPS for the year.
- The stock opened at $10.25 (up ~4.2%), has a market cap of ~$684.5M and a 52‑week range of $3.45–$11.24, while analysts' consensus is a "Moderate Buy" with an average price target of $14.29 (individual targets range roughly $13–$15 and include some sell/hold ratings).
Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CEO Dan Paterson sold 2,000 shares of Verastem stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $10.00, for a total transaction of $20,000.00. Following the sale, the chief executive officer owned 434,818 shares of the company's stock, valued at approximately $4,348,180. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Dan Paterson also recently made the following trade(s):
- On Friday, November 21st, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.00, for a total transaction of $20,000.00.
- On Monday, November 3rd, Dan Paterson sold 3,299 shares of Verastem stock. The shares were sold at an average price of $9.74, for a total transaction of $32,132.26.
- On Tuesday, September 16th, Dan Paterson sold 390 shares of Verastem stock. The shares were sold at an average price of $9.99, for a total transaction of $3,896.10.
Verastem Stock Performance
Shares of VSTM stock opened at $10.25 on Wednesday. Verastem, Inc. has a 52-week low of $3.45 and a 52-week high of $11.24. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 2.06. The stock has a market cap of $684.50 million, a PE ratio of -2.54 and a beta of 0.89. The business has a 50-day simple moving average of $8.85 and a 200-day simple moving average of $7.55.
Verastem (NASDAQ:VSTM - Get Free Report) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The company had revenue of $11.24 million during the quarter, compared to analysts' expectations of $5.76 million. On average, equities analysts expect that Verastem, Inc. will post -3.02 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of VSTM. Vanguard Group Inc. boosted its holdings in Verastem by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,479,011 shares of the biopharmaceutical company's stock worth $30,720,000 after buying an additional 55,394 shares during the last quarter. BVF Inc. IL boosted its stake in shares of Verastem by 62.1% in the second quarter. BVF Inc. IL now owns 3,404,425 shares of the biopharmaceutical company's stock worth $14,128,000 after acquiring an additional 1,303,957 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Verastem by 28.5% during the second quarter. Nantahala Capital Management LLC now owns 2,954,735 shares of the biopharmaceutical company's stock worth $12,262,000 after purchasing an additional 656,194 shares in the last quarter. Vivo Capital LLC lifted its holdings in Verastem by 71.9% in the 3rd quarter. Vivo Capital LLC now owns 2,644,985 shares of the biopharmaceutical company's stock valued at $23,355,000 after purchasing an additional 1,106,524 shares in the last quarter. Finally, Foresite Capital Management VI LLC boosted its stake in Verastem by 104.9% during the 3rd quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company's stock worth $23,092,000 after purchasing an additional 1,338,600 shares during the last quarter. Institutional investors and hedge funds own 88.37% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Mizuho set a $15.00 target price on shares of Verastem in a research note on Wednesday, October 29th. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Verastem in a research report on Tuesday, October 21st. Weiss Ratings restated a "sell (d-)" rating on shares of Verastem in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded Verastem to a "strong-buy" rating in a research note on Thursday, October 30th. Finally, Zacks Research downgraded Verastem from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Verastem has an average rating of "Moderate Buy" and an average target price of $14.29.
Read Our Latest Report on VSTM
About Verastem
(
Get Free Report)
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.
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