Verastem, Inc. (NASDAQ:VSTM) Announces Quarterly Earnings Results
Verastem, Inc. (NASDAQ:VSTM) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by $0.02, Bloomberg Earnings reports.
Shares of Verastem (VSTM) traded down 8.056% during trading on Wednesday, reaching $3.595. 914,156 shares of the company traded hands. Verastem has a 52 week low of $1.05 and a 52 week high of $4.67. The firm has a 50 day moving average of $3.12 and a 200 day moving average of $2.07. The stock’s market capitalization is $132.99 million.
Several analysts have commented on VSTM shares. Oppenheimer Holdings, Inc. set a $6.00 price target on shares of Verastem and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Cann reiterated a “buy” rating and issued a $2.00 price target on shares of Verastem in a research note on Thursday, May 11th. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $1.50 price target on shares of Verastem in a research note on Wednesday, June 28th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 price target on shares of Verastem in a research note on Thursday, June 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $4.54.
In related news, Director Timothy J. Barberich acquired 30,000 shares of Verastem stock in a transaction dated Monday, May 15th. The stock was acquired at an average price of $2.45 per share, for a total transaction of $73,500.00. Following the transaction, the director now owns 69,462 shares of the company’s stock, valued at $170,181.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.00% of the stock is currently owned by insiders.
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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