Cantor Fitzgerald Analysts Give Verastem (VSTM) a $17.00 Price Target
Verastem (NASDAQ:VSTM) has been assigned a $17.00 target price by stock analysts at Cantor Fitzgerald in a research note issued to investors on Sunday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 372.22% from the stock’s current price.
Several other equities analysts have also recently commented on VSTM. Cann reissued a “buy” rating and set a $6.00 target price on shares of Verastem in a research report on Tuesday, November 7th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Verastem in a report on Wednesday, November 8th. Oppenheimer reiterated a “buy” rating and set a $6.00 price target on shares of Verastem in a report on Wednesday, September 6th. Roth Capital started coverage on shares of Verastem in a report on Friday, December 1st. They issued a “buy” rating and a $12.00 target price on the stock. Finally, ValuEngine cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $10.03.
Verastem (VSTM) traded down $0.73 during trading hours on Friday, reaching $3.60. The company’s stock had a trading volume of 8,708,291 shares, compared to its average volume of 793,595. Verastem has a 1 year low of $1.08 and a 1 year high of $5.71. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06.
In related news, Director Timothy J. Barberich bought 60,538 shares of the stock in a transaction on Tuesday, December 5th. The stock was bought at an average price of $3.95 per share, with a total value of $239,125.10. Following the completion of the purchase, the director now directly owns 130,000 shares in the company, valued at approximately $513,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.51% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in Verastem during the third quarter worth approximately $6,580,000. Artal Group S.A. purchased a new position in Verastem in the 2nd quarter valued at $1,090,000. EAM Investors LLC purchased a new position in Verastem in the 3rd quarter valued at $2,092,000. Dimensional Fund Advisors LP grew its position in Verastem by 93.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock valued at $2,641,000 after buying an additional 272,141 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Verastem by 20.0% in the 1st 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. 34.24% of the stock is owned by institutional investors and hedge funds.
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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