Verastem, Inc. (NASDAQ:VSTM) has been assigned a $7.00 price objective by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 96.63% from the company’s current price.

VSTM has been the topic of a number of other research reports. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Thursday, July 13th. Cantor Fitzgerald reissued a “hold” rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, June 8th. Oppenheimer Holdings, Inc. set a $6.00 price target on Verastem and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Jefferies Group LLC restated a “hold” rating and set a $1.50 price objective on shares of Verastem in a report on Wednesday, June 28th. Finally, Cann restated a “buy” rating and set a $6.00 price objective on shares of Verastem in a report on Monday, June 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $4.61.

Shares of Verastem (VSTM) opened at 3.56 on Thursday. The company’s market cap is $131.69 million. Verastem has a 52 week low of $1.05 and a 52 week high of $4.67. The company’s 50-day moving average price is $3.27 and its 200 day moving average price is $2.13.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.02. On average, equities analysts forecast that Verastem will post ($1.33) EPS for the current fiscal year.

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In other news, Director Timothy J. Barberich acquired 30,000 shares of Verastem stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the acquisition, the director now directly owns 69,462 shares in the company, valued at approximately $170,181.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.00% of the company’s stock.

Several large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 219,445 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Verastem by 20.0% in the first 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 period. TFS Capital LLC bought a new stake in shares of Verastem during the first quarter valued at about $113,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Verastem during the second quarter valued at about $109,000. Finally, Howland Capital Management LLC boosted its stake in shares of Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 41,616 shares during the period. Institutional investors and hedge funds own 22.31% of the company’s stock.

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.

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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