Verastem (VSTM) Given a $10.00 Price Target at HC Wainwright
Verastem (NASDAQ:VSTM) has been assigned a $10.00 price target by analysts at HC Wainwright in a report issued on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 168.82% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Verastem from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a research note on Wednesday, September 6th. Oppenheimer reiterated a “buy” rating and issued a $6.00 target price on shares of Verastem in a research note on Wednesday, September 6th. Roth Capital initiated coverage on shares of Verastem in a research note on Friday, December 1st. They issued a “buy” rating and a $12.00 target price for the company. ValuEngine cut shares of Verastem from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Verastem currently has an average rating of “Buy” and a consensus price target of $10.03.
Verastem (NASDAQ:VSTM) opened at $3.72 on Wednesday. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.06. Verastem has a 12 month low of $1.08 and a 12 month high of $5.71.
Verastem (NASDAQ:VSTM) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.29). analysts forecast that Verastem will post -1.74 EPS for the current fiscal year.
In related news, Director Timothy J. Barberich acquired 60,538 shares of Verastem stock in a transaction on Tuesday, December 5th. The stock was bought at an average cost of $3.95 per share, for a total transaction of $239,125.10. Following the completion of the transaction, the director now owns 130,000 shares of the company’s stock, valued at approximately $513,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.51% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP raised its position in shares of Verastem by 137.1% in the third quarter. Susquehanna International Group LLP now owns 75,526 shares of the biopharmaceutical company’s stock valued at $355,000 after buying an additional 43,675 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Verastem in the third quarter valued at about $136,000. Point72 Asset Management L.P. acquired a new stake in shares of Verastem in the third quarter valued at about $6,580,000. Dimensional Fund Advisors LP raised its position in shares of Verastem by 93.9% in the third 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, Citadel Advisors LLC acquired a new stake in shares of Verastem in the third quarter valued at about $195,000. Institutional investors and hedge funds own 34.24% of the company’s stock.
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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