Verastem (VSTM) Receives “Buy” Rating from Cantor Fitzgerald

Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reissued by equities research analysts at Cantor Fitzgerald in a report released on Wednesday. They presently have a $17.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 389.91% from the company’s previous close.

The analysts wrote, “VSTM shares are up premarket on the news that the company submitted an NDA for approval of duvelisib for the treatment of chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL), as well as for accelerated approval in relapsed or refractory follicular lymphoma (FL).””

VSTM has been the subject of several other reports. Oppenheimer reissued a “buy” rating and issued a $15.00 price objective on shares of Verastem in a research note on Sunday, December 10th. Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Cann reaffirmed a “buy” rating and issued a $13.00 target price on shares of Verastem in a report on Friday, January 26th. ValuEngine lowered Verastem from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of Verastem in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $9.53.

Shares of Verastem (NASDAQ:VSTM) traded up $0.11 during trading on Wednesday, hitting $3.47. The stock had a trading volume of 810,449 shares, compared to its average volume of 781,378. The stock has a market capitalization of $144.47, a P/E ratio of -2.12 and a beta of 2.20. Verastem has a 12-month low of $1.11 and a 12-month high of $5.71. 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 (NASDAQ:VSTM) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.29). equities analysts expect that Verastem will post -1.74 EPS for the current fiscal year.

In other Verastem news, Director Timothy J. Barberich bought 60,538 shares of Verastem stock in a transaction dated Tuesday, December 5th. The stock was bought at an average cost of $3.95 per share, with a total value of $239,125.10. Following the completion of the acquisition, the director now directly owns 130,000 shares in the company, valued at approximately $513,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.51% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in Verastem during the third quarter valued at $136,000. SeaCrest Wealth Management LLC bought a new position in Verastem during the fourth quarter valued at $108,000. Citadel Advisors LLC bought a new position in Verastem during the third quarter valued at $195,000. Omni Partners LLP bought a new position in Verastem during the fourth quarter valued at $205,000. Finally, Northern Trust Corp grew its holdings in Verastem by 40.3% during the second 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 during the period. 28.72% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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