Verastem Inc (NASDAQ:VSTM) Short Interest Down 21.1% in March

Verastem Inc (NASDAQ:VSTM) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totalling 9,320,600 shares, a decrease of 21.1% from the February 27th total of 11,810,000 shares. Based on an average daily volume of 3,489,700 shares, the days-to-cover ratio is presently 2.7 days. Approximately 13.0% of the company’s stock are sold short.

A number of brokerages have weighed in on VSTM. Zacks Investment Research cut Verastem from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. BidaskClub upgraded Verastem from a “sell” rating to a “hold” rating in a research note on Thursday. Cantor Fitzgerald boosted their price objective on Verastem from $3.00 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. HC Wainwright boosted their price objective on Verastem from $2.50 to $2.75 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, ValuEngine upgraded Verastem from a “hold” rating to a “buy” rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Verastem currently has an average rating of “Buy” and a consensus price target of $5.95.

Shares of NASDAQ VSTM opened at $2.56 on Friday. The company has a current ratio of 2.84, a quick ratio of 2.74 and a debt-to-equity ratio of 14.93. Verastem has a twelve month low of $0.83 and a twelve month high of $3.49. The stock has a 50 day moving average of $2.26 and a two-hundred day moving average of $1.58. The stock has a market cap of $361.61 million, a P/E ratio of -1.27 and a beta of 2.04.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Wednesday, March 11th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.05). Verastem had a negative return on equity of 339.98% and a negative net margin of 854.77%. The company had revenue of $3.62 million for the quarter, compared to analysts’ expectations of $5.11 million. As a group, research analysts predict that Verastem will post -0.58 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of Verastem by 26.9% during the fourth quarter. Creative Planning now owns 117,547 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 24,950 shares during the last quarter. Aries Wealth Management raised its stake in shares of Verastem by 100.0% during the fourth quarter. Aries Wealth Management now owns 20,003 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 10,000 shares during the last quarter. Samalin Investment Counsel LLC purchased a new stake in shares of Verastem during the fourth quarter worth approximately $118,000. Middleton & Co Inc MA purchased a new stake in shares of Verastem during the fourth quarter worth approximately $40,000. Finally, Marshall Wace LLP purchased a new stake in shares of Verastem during the first quarter worth approximately $319,000. Institutional investors and hedge funds own 21.23% of the company’s stock.

Verastem Company Profile

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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