Nomura Holdings Inc. Purchases New Position in Verastem, Inc. $VSTM

Key Points

• Nomura Holdings Inc. has invested approximately $1.26 million in Verastem, Inc., acquiring 208,105 shares and representing about 0.40% ownership.
• Verastem has reported (-$0.39) earnings per share for the last quarter, which exceeded analysts' expectations of (-$0.64), but its revenue fell significantly short of projections.
• Wall Street analysts have generally recommended Verastem with a consensus rating of "Buy" and an average target price of $13.29, reflecting optimism about the company's growth prospects.

Nomura Holdings Inc. purchased a new position in Verastem, Inc. (NASDAQ:VSTM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 208,105 shares of the biopharmaceutical company's stock, valued at approximately $1,255,000. Nomura Holdings Inc. owned 0.40% of Verastem as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. ProShare Advisors LLC purchased a new position in Verastem in the 4th quarter worth about $56,000. BNP Paribas Financial Markets bought a new position in Verastem in the fourth quarter worth approximately $387,000. Stifel Financial Corp increased its holdings in Verastem by 30.5% during the 4th quarter. Stifel Financial Corp now owns 39,593 shares of the biopharmaceutical company's stock worth $205,000 after purchasing an additional 9,254 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Verastem by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,571 shares of the biopharmaceutical company's stock worth $106,000 after buying an additional 6,012 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Verastem during the first quarter valued at $1,631,000. Hedge funds and other institutional investors own 88.37% of the company's stock.

Verastem Stock Up 2.0%

Shares of VSTM traded up $0.21 during mid-day trading on Friday, hitting $10.77. 3,998,641 shares of the company traded hands, compared to its average volume of 3,053,388. The business has a 50 day moving average of $6.73 and a 200 day moving average of $6.45. The company has a market capitalization of $662.79 million, a PE ratio of -3.28 and a beta of 0.93. The company has a quick ratio of 3.44, a current ratio of 3.46 and a debt-to-equity ratio of 2.06. Verastem, Inc. has a 1-year low of $2.34 and a 1-year high of $11.25.

Verastem (NASDAQ:VSTM - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.25. The company had revenue of $2.14 million for the quarter, compared to analysts' expectations of $6.01 million. Equities research analysts anticipate that Verastem, Inc. will post -3.02 EPS for the current year.

Insider Activity

In related news, CEO Dan Paterson sold 17,808 shares of Verastem stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $5.13, for a total transaction of $91,355.04. Following the completion of the sale, the chief executive officer owned 443,839 shares of the company's stock, valued at $2,276,894.07. The trade was a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 24,488 shares of company stock valued at $127,149 in the last three months. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VSTM. B. Riley upgraded shares of Verastem to a "strong-buy" rating in a report on Monday, August 25th. Wall Street Zen raised shares of Verastem from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Royal Bank Of Canada boosted their price objective on shares of Verastem from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Zacks Research raised Verastem to a "hold" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $13.29.

Verastem Company 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.