Verastem (NASDAQ:VSTM) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Verastem (NASDAQ:VSTM – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright dropped their price target on Verastem from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Verastem Stock Performance

NASDAQ:VSTM opened at $0.49 on Thursday. The stock’s 50 day moving average price is $0.55 and its 200 day moving average price is $0.63. The company has a market capitalization of $102.94 million, a PE ratio of -1.26 and a beta of 0.81. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 0.39. Verastem has a 52-week low of $0.29 and a 52-week high of $2.13.

Institutional Trading of Verastem

Several hedge funds have recently modified their holdings of VSTM. Merit Financial Group LLC raised its holdings in Verastem by 229.2% during the fourth quarter. Merit Financial Group LLC now owns 65,846 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 45,846 shares during the last quarter. Eaton Vance Management acquired a new position in Verastem during the first quarter worth $28,000. Y Intercept Hong Kong Ltd acquired a new position in Verastem during the second quarter worth $30,000. Financial Advisors LLC purchased a new position in Verastem during the second quarter worth $35,000. Finally, Mirabella Financial Services LLP purchased a new position in Verastem during the first quarter worth $36,000. 60.59% of the stock is owned by institutional investors and hedge funds.

Verastem Company Profile

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Verastem, Inc is a biopharmaceutical company, which engages in the development and commercialization of drugs for the treatment of cancer. The company was founded by Richard H. Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric S. Lander, Robert F. Weinberg, and Christoph H. Westphal on August 4, 2010 and is headquartered in Needham, MA.