OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Verastem, Inc. (NASDAQ:VSTM - Free Report) by 41.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 608,524 shares of the biopharmaceutical company's stock after buying an additional 177,855 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.37% of Verastem worth $3,146,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 1,698 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Verastem by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company's stock worth $50,000 after buying an additional 6,016 shares during the period. Voya Investment Management LLC bought a new stake in shares of Verastem during the fourth quarter valued at approximately $59,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Verastem in the fourth quarter valued at approximately $74,000. Finally, Invesco Ltd. grew its stake in Verastem by 18.4% in the fourth quarter. Invesco Ltd. now owns 14,680 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 2,281 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors.
Verastem Price Performance
Shares of NASDAQ VSTM opened at $7.29 on Tuesday. The firm has a market cap of $375.36 million, a PE ratio of -2.29 and a beta of 0.85. The firm has a fifty day moving average of $6.38 and a 200 day moving average of $5.51. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. Verastem, Inc. has a one year low of $2.10 and a one year high of $13.52.
Verastem (NASDAQ:VSTM - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.57). As a group, research analysts predict that Verastem, Inc. will post -3.02 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on VSTM shares. Guggenheim lifted their target price on Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, March 24th. Jefferies Financial Group initiated coverage on Verastem in a report on Thursday, April 10th. They set a "buy" rating and a $15.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. HC Wainwright increased their price objective on Verastem from $10.00 to $14.00 and gave the company a "buy" rating in a report on Friday. Finally, B. Riley boosted their target price on shares of Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Verastem currently has a consensus rating of "Moderate Buy" and an average target price of $14.33.
View Our Latest Report on Verastem
Verastem Profile
(
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.
Further Reading
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