Insider Buying: Verastem Director Acquires 1,000 Shares of Stock (VSTM)
Verastem (NASDAQ:VSTM) Director Richard Aldrich acquired 1,000 shares of the company’s stock on the open market in a transaction dated Monday, October 14th. The stock was purchased at an average price of $10.56 per share, for a total transaction of $10,560.00. Following the acquisition, the director now directly owns 407,142 shares in the company, valued at approximately $4,299,420. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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. 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. Eight research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $22.11.
Shares of Verastem (NASDAQ:VSTM) traded down 0.71% on Tuesday, hitting $11.17. The stock had a trading volume of 174,266 shares. 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 $12.91 and its 200-day moving average is $12.20. The company’s market cap is $285.9 million.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings data 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. Analysts expect that Verastem will post $-1.75 EPS for the current fiscal year.
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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