StockNews.com Initiates Coverage on Verastem (NASDAQ:VSTM)

Research analysts at StockNews.com initiated coverage on shares of Verastem (NASDAQ:VSTM – Get Rating) in a research note issued to investors on Friday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Verastem Trading Down 5.5 %

Shares of Verastem stock opened at $0.43 on Friday. 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. The company’s 50-day simple moving average is $0.56 and its 200-day simple moving average is $0.61. The firm has a market cap of $89.35 million, a price-to-earnings ratio of -1.09 and a beta of 0.81.

Institutional Investors Weigh In On Verastem

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Verastem by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,511,513 shares of the biopharmaceutical company’s stock worth $7,235,000 after purchasing an additional 528,022 shares in the last quarter. Eagle Asset Management Inc. raised its position in Verastem by 20.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 5,571,633 shares of the biopharmaceutical company’s stock worth $6,463,000 after purchasing an additional 942,280 shares during the last quarter. Millennium Management LLC grew its holdings in Verastem by 417.3% during the 2nd quarter. Millennium Management LLC now owns 5,154,530 shares of the biopharmaceutical company’s stock worth $5,979,000 after acquiring an additional 4,158,108 shares during the period. Geode Capital Management LLC grew its holdings in Verastem by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,832,307 shares of the biopharmaceutical company’s stock valued at $737,000 after purchasing an additional 31,800 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Verastem by 190.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,684,106 shares of the biopharmaceutical company’s stock worth $2,375,000 after buying an additional 1,103,806 shares during the period. 60.59% of the stock is currently owned by institutional investors.

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.