Verastem Inc (NASDAQ:VSTM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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 equities research analysts have also weighed in on VSTM. HC Wainwright boosted their target price on Verastem from $5.00 to $6.50 and gave the company a “buy” rating in a research note on Friday, March 24th. Cann reissued an “outperform” rating and issued a $6.00 target price on shares of Verastem in a research note on Wednesday, April 12th. Oppenheimer Holdings, Inc. started coverage on Verastem in a research note on Thursday, April 13th. They issued an “outperform” rating and a $6.00 target price for the company. CIBC reissued an “outperform” rating and issued a $6.00 target price on shares of Verastem in a research note on Thursday, April 13th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $2.00 target price on shares of Verastem in a research note on Thursday, May 11th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $4.54.

Verastem (NASDAQ VSTM) opened at 3.61 on Tuesday. The firm’s market cap is $133.54 million. The firm has a 50-day moving average price of $2.25 and a 200-day moving average price of $1.66. Verastem has a one year low of $1.05 and a one year high of $4.67.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.35). On average, equities analysts expect that Verastem will post ($1.31) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Verastem Inc (NASDAQ:VSTM) Rating Lowered to Hold at Zacks Investment Research” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/07/18/verastem-inc-nasdaqvstm-rating-lowered-to-hold-at-zacks-investment-research.html.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TFS Capital LLC acquired a new position in shares of Verastem during the first quarter worth about $113,000. Renaissance Technologies LLC increased its position in shares of Verastem by 13.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,022,200 shares of the biopharmaceutical company’s stock worth $1,145,000 after buying an additional 122,600 shares in the last quarter. Finally, FMR LLC increased its position in shares of 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 in the last quarter.

Verastem Company Profile

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.

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

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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.