Apollon Wealth Management LLC Buys 10,457 Shares of Verastem, Inc. (NASDAQ:VSTM)

Apollon Wealth Management LLC boosted its stake in shares of Verastem, Inc. (NASDAQ:VSTM) by 104.6% during the third quarter, Holdings Channel.com reports. The fund owned 20,457 shares of the biopharmaceutical company’s stock after acquiring an additional 10,457 shares during the period. Apollon Wealth Management LLC’s holdings in Verastem were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of VSTM. SG Americas Securities LLC bought a new position in shares of Verastem in the 3rd quarter valued at $43,000. Acadian Asset Management LLC bought a new position in shares of Verastem in the 2nd quarter valued at $82,000. Rhumbline Advisers grew its position in Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 28,119 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Verastem during the 2nd quarter worth $203,000. Finally, Nantahala Capital Management LLC bought a new stake in Verastem during the 2nd quarter worth $1,192,000. Institutional investors own 88.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial reduced their price objective on Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Guggenheim assumed coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective on the stock. B. Riley reduced their price objective on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Verastem in a research report on Friday, October 18th. Finally, StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.57.

Verastem Stock Up 3.7 %

Shares of VSTM opened at $3.96 on Wednesday. The company has a market capitalization of $176.26 million, a PE ratio of -1.24 and a beta of 0.14. Verastem, Inc. has a 12 month low of $2.10 and a 12 month high of $14.22. The stock’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.96. 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 quarterly earnings data 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, analysts anticipate that Verastem, Inc. will post -3.24 EPS for the current 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.