Charles Schwab Investment Management Inc. Has $310,000 Position in Verastem, Inc. (NASDAQ:VSTM)

Charles Schwab Investment Management Inc. raised its holdings in Verastem, Inc. (NASDAQ:VSTM) by 46.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,601 shares of the biopharmaceutical company’s stock after acquiring an additional 32,791 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Verastem were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VSTM. SG Americas Securities LLC acquired a new position in shares of Verastem in the 3rd quarter valued at $43,000. Apollon Wealth Management LLC increased its holdings 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 acquiring an additional 10,457 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Verastem during the second quarter worth about $82,000. Rhumbline Advisers lifted its holdings in shares of Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 28,119 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Verastem in the 2nd quarter valued at approximately $203,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

VSTM has been the topic of several research analyst reports. StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Verastem in a research report on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Verastem in a research note on Thursday. Finally, Mizuho upped their price objective on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Verastem Stock Up 4.2 %

Shares of VSTM stock opened at $4.44 on Friday. The firm’s fifty day moving average price is $4.10 and its two-hundred day moving average price is $3.30. 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, Inc. has a 1 year low of $2.10 and a 1 year high of $14.22. The firm has a market capitalization of $197.61 million, a P/E ratio of -1.39 and a beta of 0.22.

Verastem (NASDAQ:VSTM) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. On average, equities analysts predict that Verastem, Inc. will post -3.16 EPS for the current fiscal year.

Verastem 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.