Hennion & Walsh Asset Management Inc. Takes $1.35 Million Position in Verastem, Inc. $VSTM

Hennion & Walsh Asset Management Inc. bought a new position in Verastem, Inc. (NASDAQ:VSTM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 174,384 shares of the biopharmaceutical company’s stock, valued at approximately $1,346,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Verastem by 110.9% during the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 4,496 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Verastem during the second quarter valued at $49,000. Nebula Research & Development LLC acquired a new stake in shares of Verastem in the 2nd quarter valued at $53,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares in the last quarter. Institutional investors own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VSTM. Guggenheim reiterated a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. BTIG Research assumed coverage on shares of Verastem in a research note on Thursday, March 12th. They issued a “buy” rating and a $19.00 target price for the company. Finally, HC Wainwright began coverage on Verastem in a report on Wednesday, February 4th. They issued a “buy” rating and a $18.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.60.

Insider Buying and Selling

In related news, CFO Daniel Calkins sold 5,039 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $7.16, for a total value of $36,079.24. Following the completion of the sale, the chief financial officer owned 104,719 shares of the company’s stock, valued at $749,788.04. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dan Paterson sold 10,321 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $73,898.36. Following the completion of the transaction, the chief executive officer owned 400,104 shares of the company’s stock, valued at $2,864,744.64. This trade represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,330 shares of company stock worth $116,467 over the last quarter. 2.10% of the stock is owned by company insiders.

Verastem Stock Performance

Shares of NASDAQ:VSTM opened at $5.63 on Friday. The business has a fifty day moving average of $5.90 and a 200-day moving average of $7.68. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.07 and a current ratio of 3.09. Verastem, Inc. has a twelve month low of $4.01 and a twelve month high of $11.24. The firm has a market cap of $494.48 million, a PE ratio of -1.76 and a beta of 0.43.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The business had revenue of $17.54 million for the quarter, compared to analysts’ expectations of $16.85 million. On average, equities research analysts predict that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Verastem Company Profile

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.