Verastem Director Buys $11,530 in Stock (VSTM)
Verastem (NASDAQ:VSTM) Director Richard Aldrich purchased 1,000 shares of Verastem stock on the open market in a transaction dated Monday, October 7th. The shares were purchased at an average cost of $11.53 per share, for a total transaction of $11,530.00. Following the completion of the transaction, the director now directly owns 407,142 shares of the company’s stock, valued at approximately $4,694,347. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Verastem (NASDAQ:VSTM) traded down 5.06% during mid-day trading on Monday, hitting $11.06. 395,154 shares of the company’s stock traded hands. Verastem has a 52 week low of $6.25 and a 52 week high of $18.82. The stock’s 50-day moving average is $13.5 and its 200-day moving average is $12.11. The company’s market cap is $283.1 million.
Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, August 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by $0.08.
A number of research firms have recently commented on VSTM. Analysts at UBS AG raised their price target on shares of Verastem from $20.00 to $30.00 in a research note to investors on Wednesday, August 7th. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group initiated coverage on shares of Verastem in a research note to investors on Monday, July 29th. They set a “buy” rating and a $21.00 price target on the stock. Finally, analysts at Roth Capital raised their price target on shares of Verastem from $23.00 to $29.00 in a research note to investors on Monday, July 15th. They now have a “buy” rating on the stock. Eight equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $22.11.
Verastem, Inc is a United States-based biopharmaceutical company. The Company focuses on discovering and developing drugs to treat cancer by targeting cancer stem cells, which are an underlying cause of tumor recurrence and metastasis.
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