Cantor Fitzgerald Analysts Give Verastem, Inc. (VSTM) a $17.00 Price Target
Verastem, Inc. (NASDAQ:VSTM) has been assigned a $17.00 price target by research analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 364.48% from the stock’s previous close.
A number of other brokerages also recently issued reports on VSTM. HC Wainwright reissued a “buy” rating and set a $10.00 price target (up previously from $6.50) on shares of Verastem in a research report on Thursday, September 7th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $6.00 price target on shares of Verastem in a research report on Thursday, October 12th. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Thursday, July 13th. ValuEngine downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Cann reissued a “buy” rating and set a $6.00 price target on shares of Verastem in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $7.18.
Shares of Verastem (VSTM) traded up 1.64% during mid-day trading on Tuesday, hitting $3.72. The stock had a trading volume of 27,612 shares. Verastem has a 52 week low of $1.05 and a 52 week high of $5.71. The stock’s market capitalization is $137.61 million. The stock has a 50 day moving average of $4.58 and a 200-day moving average of $3.29.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.02). On average, equities research analysts predict that Verastem will post ($1.38) earnings per share for the current year.
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Several hedge funds have recently modified their holdings of the business. OxFORD Asset Management LLP acquired a new stake in shares of Verastem in the 2nd quarter valued at $234,000. Dimensional Fund Advisors LP boosted its holdings in shares of Verastem by 697.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock valued at $632,000 after purchasing an additional 253,492 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Verastem by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock valued at $2,493,000 after purchasing an additional 107,029 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Verastem by 40.3% in the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 21,178 shares in the last quarter. Finally, Artal Group S.A. acquired a new stake in shares of Verastem in the 2nd quarter valued at $1,090,000. 24.24% of the stock is currently owned by hedge funds and other institutional investors.
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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