Verastem, Inc. (VSTM) Given Average Recommendation of “Hold” by Brokerages
Shares of Verastem, Inc. (NASDAQ:VSTM) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.10.
Several research analysts have weighed in on the stock. HC Wainwright set a $7.00 price target on shares of Verastem and gave the company a “buy” rating in a report on Thursday, August 10th. Cann reissued a “buy” rating on shares of Verastem in a report on Wednesday, August 16th. Zacks Investment Research cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $6.00 price target on shares of Verastem in a report on Thursday, October 12th. Finally, Cantor Fitzgerald set a $17.00 price target on shares of Verastem and gave the company a “buy” rating in a report on Tuesday.
Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02).
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Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Verastem by 40.3% during the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 21,178 shares during the period. Howland Capital Management LLC increased its holdings in shares of Verastem by 16.5% during the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after purchasing an additional 41,616 shares during the period. Alpine Woods Capital Investors LLC bought a new position in shares of Verastem during the second quarter worth approximately $109,000. Vanguard Group Inc. increased its holdings in shares of Verastem by 10.3% during the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after purchasing an additional 107,029 shares during the period. Finally, OxFORD Asset Management LLP bought a new position in shares of Verastem during the second quarter worth approximately $234,000. 24.24% of the stock is currently owned by 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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