Verastem Inc (NASDAQ:VSTM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Verastem, Inc. is a biopharmaceutical company focused on discovering and developing novel drugs that selectively target cancer stem cells. The company discovers, researches, and develops new medicines for the treatment of major cancers such as breast cancer. Verastem, Inc. is based in Cambridge, Massachusetts. “

A number of other brokerages also recently weighed in on VSTM. Oppenheimer Holdings Inc. set a $6.00 price objective on shares of Verastem and gave the company a “buy” rating in a research report on Wednesday, May 10th. Cann reaffirmed a “buy” rating and set a $2.00 price objective on shares of Verastem in a research report on Thursday, May 11th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $2.00 price objective on shares of Verastem in a research report on Thursday, May 11th. CIBC reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Verastem in a research report on Thursday, April 13th. Finally, HC Wainwright boosted their price objective on shares of Verastem from $5.00 to $6.50 and gave the company a “buy” rating in a research report on Friday, March 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $3.64.

Analyst Recommendations for Verastem (NASDAQ:VSTM)

Shares of Verastem (NASDAQ:VSTM) opened at 2.40 on Thursday. The firm’s market cap is $88.78 million. The stock’s 50 day moving average is $2.07 and its 200 day moving average is $1.48. Verastem has a 52 week low of $1.05 and a 52 week high of $2.54.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). On average, equities research analysts predict that Verastem will post ($1.31) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/05/25/verastem-inc-vstm-upgraded-by-zacks-investment-research-to-hold.html.

In other news, Director Timothy J. Barberich bought 30,000 shares of Verastem stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $2.45 per share, with a total value of $73,500.00. Following the purchase, the director now directly owns 69,462 shares of the company’s stock, valued at approximately $170,181.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. raised its position in Verastem by 736.0% in the fourth quarter. Bridgeway Capital Management Inc. now owns 654,600 shares of the biopharmaceutical company’s stock worth $1,218,000 after buying an additional 576,300 shares during the last quarter. AWM Investment Company Inc. raised its position in Verastem by 40.0% in the second quarter. AWM Investment Company Inc. now owns 1,400,000 shares of the biopharmaceutical company’s stock worth $1,820,000 after buying an additional 400,000 shares during the last quarter. Renaissance Technologies LLC raised its position in Verastem by 438.5% in the first quarter. Renaissance Technologies LLC now owns 457,438 shares of the biopharmaceutical company’s stock worth $723,000 after buying an additional 372,493 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Verastem during the first quarter worth about $585,000. Finally, FMR LLC raised its position in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 219,445 shares during the last quarter.

About Verastem

Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.

12 Month Chart for NASDAQ:VSTM

Get a free copy of the Zacks research report on Verastem (VSTM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Verastem Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem Inc and related companies with MarketBeat.com's FREE daily email newsletter.