1,310,287 Shares in Verastem, Inc. (NASDAQ:VSTM) Bought by Stonepine Capital Management LLC

Stonepine Capital Management LLC acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,310,287 shares of the biopharmaceutical company’s stock, valued at approximately $3,918,000. Verastem makes up about 2.5% of Stonepine Capital Management LLC’s portfolio, making the stock its 12th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Nantahala Capital Management LLC bought a new position in Verastem during the 2nd quarter worth $1,192,000. SG Americas Securities LLC bought a new position in shares of Verastem in the third quarter worth $43,000. Vanguard Group Inc. grew its stake in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after purchasing an additional 10,678 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 10,457 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Verastem in the second quarter worth $203,000. 88.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VSTM shares. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Verastem in a research note on Friday, October 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. Guggenheim started coverage on Verastem in a research note on Monday, September 30th. They issued a “buy” rating and a $13.00 price target for the company. Truist Financial decreased their price target on Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Verastem in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Verastem Price Performance

VSTM stock traded up $0.27 during trading hours on Wednesday, hitting $4.32. 230,701 shares of the stock traded hands, compared to its average volume of 594,274. The stock has a 50-day simple moving average of $3.35 and a 200 day simple moving average of $3.75. Verastem, Inc. has a one year low of $2.10 and a one year high of $14.22. The company has a market cap of $192.28 million, a P/E ratio of -1.35 and a beta of 0.14. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.11. Equities analysts forecast that Verastem, Inc. will post -3.16 earnings per share for the current year.

About Verastem

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.