Verastem, Inc. (VSTM) Given Consensus Recommendation of “Buy” by Brokerages
Verastem, Inc. (NASDAQ:VSTM) has been assigned an average rating of “Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.67.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Verastem from a “sell” rating to a “hold” rating in a report on Thursday, May 25th. CIBC restated an “outperform” rating and issued a $6.00 price target on shares of Verastem in a report on Thursday, April 13th. Cantor Fitzgerald restated a “hold” rating and issued a $2.00 price target on shares of Verastem in a report on Thursday, June 8th. Oppenheimer Holdings, Inc. set a $6.00 price target on Verastem and gave the company a “buy” rating in a report on Sunday, June 4th. Finally, Cann restated a “buy” rating and issued a $2.00 price target on shares of Verastem in a report on Thursday, May 11th.
Verastem (VSTM) opened at 3.67 on Tuesday. The firm has a 50-day moving average price of $2.74 and a 200 day moving average price of $1.93. Verastem has a 12 month low of $1.05 and a 12 month high of $4.67. The firm’s market capitalization is $135.76 million.
Verastem (NASDAQ:VSTM) last posted its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.35). On average, equities analysts forecast that Verastem will post ($1.31) EPS for the current year.
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In related news, Director Timothy J. Barberich bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the acquisition, the director now 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. Corporate insiders own 12.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock valued at $2,539,000 after buying an additional 204,400 shares during the last quarter. TFS Capital LLC bought a new stake in Verastem during the first quarter valued at about $113,000. Finally, FMR LLC raised its stake in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 219,445 shares during the last quarter. Institutional investors and hedge funds own 22.48% of the company’s stock.
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.
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