Acadian Asset Management LLC Invests $82,000 in Verastem, Inc. (NASDAQ:VSTM)

Acadian Asset Management LLC purchased a new stake in Verastem, Inc. (NASDAQ:VSTM) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 27,689 shares of the biopharmaceutical company’s stock, valued at approximately $82,000.

A number of other large investors have also recently added to or reduced their stakes in VSTM. Cannon Global Investment Management LLC acquired a new stake in shares of Verastem in the 1st quarter valued at about $131,000. Vanguard Group Inc. increased its holdings in Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after buying an additional 10,678 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Verastem during the second quarter valued at approximately $203,000. Finally, Rhumbline Advisers raised its stake in Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 28,119 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VSTM. HC Wainwright lowered their price target on Verastem from $17.50 to $7.00 and set a “buy” rating for the company in a report on Monday, August 12th. Royal Bank of Canada lowered their target price on shares of Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Alliance Global Partners decreased their price target on shares of Verastem from $34.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. StockNews.com upgraded Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Finally, B. Riley dropped their price target on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Verastem presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Verastem Trading Up 1.8 %

Verastem stock opened at $2.88 on Friday. The firm has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $6.27. Verastem, Inc. has a 52-week low of $2.10 and a 52-week high of $14.22. The firm has a market capitalization of $72.94 million, a price-to-earnings ratio of -0.65 and a beta of 0.16. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 1.88.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The business had revenue of $10.00 million during the quarter. Sell-side analysts expect that Verastem, Inc. will post -3.36 earnings per share for the current year.

Verastem Company 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.