FY2020 EPS Estimates for Verastem Inc (VSTM) Raised by Oppenheimer

Verastem Inc (NASDAQ:VSTM) – Oppenheimer upped their FY2020 earnings per share estimates for shares of Verastem in a report issued on Wednesday. Oppenheimer analyst L. Cann now anticipates that the biopharmaceutical company will earn $0.08 per share for the year, up from their prior forecast of ($0.08). Oppenheimer has a “Buy” rating and a $13.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. Cann restated a “buy” rating and issued a $15.00 price objective (up from $6.00) on shares of Verastem in a research note on Sunday, December 10th. Cantor Fitzgerald set a $17.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Roth Capital started coverage on shares of Verastem in a research note on Friday, December 1st. They issued a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, HC Wainwright set a $10.00 target price on shares of Verastem and gave the company a “buy” rating in a research note on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $9.53.

Shares of Verastem (NASDAQ VSTM) opened at $3.16 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. Verastem has a one year low of $1.11 and a one year high of $5.71. The firm has a market cap of $152.84, a price-to-earnings ratio of -1.93 and a beta of 2.20.

In related news, Director Timothy J. Barberich bought 60,538 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average cost of $3.95 per share, for a total transaction of $239,125.10. Following the purchase, the director now directly owns 130,000 shares in the company, valued at $513,500. The purchase was disclosed in a filing with the SEC, which is available through this link. 6.51% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in VSTM. Northern Trust Corp increased its holdings in 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 buying an additional 21,178 shares during the period. Vanguard Group Inc. increased its holdings in 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 buying an additional 107,029 shares during the period. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 253,492 shares during the period. OxFORD Asset Management LLP bought a new stake in Verastem in the 2nd quarter valued at $234,000. Finally, ClariVest Asset Management LLC bought a new stake in Verastem in the 3rd quarter valued at $421,000. 29.10% of the stock is currently owned by hedge funds and other institutional investors.

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About Verastem

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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