Insider Buying: Christoph H. Westphal Purchases 2,000 Shares of Verastem Stock (VSTM)
Verastem (NASDAQ:VSTM) Chairman Christoph H. Westphal purchased 2,000 shares of Verastem stock on the open market in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $7.56 per share, for a total transaction of $15,120.00. Following the transaction, the chairman now directly owns 700,264 shares of the company’s stock, valued at approximately $5,293,996. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Verastem (NASDAQ:VSTM) traded down 0.13% on Thursday, hitting $7.64. 104,369 shares of the company’s stock traded hands. Verastem has a one year low of $7.10 and a one year high of $18.82. The stock’s 50-day moving average is $9.08 and its 200-day moving average is $11.48. The company’s market cap is $197.4 million.
Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.08. Analysts expect that Verastem will post $-1.92 EPS for the current fiscal year.
Separately, analysts at Deutsche Bank initiated coverage on shares of Verastem in a research note on Tuesday, May 6th. They set a “buy” rating and a $14.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $20.44.
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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