Verastem, Inc. to Post Q3 2017 Earnings of ($0.35) Per Share, Oppenheimer Holdings Forecasts (NASDAQ:VSTM)
Verastem, Inc. (NASDAQ:VSTM) – Investment analysts at Oppenheimer Holdings decreased their Q3 2017 earnings per share estimates for shares of Verastem in a research report issued on Tuesday. Oppenheimer Holdings analyst L. Cann now forecasts that the biopharmaceutical company will post earnings of ($0.35) per share for the quarter, down from their prior estimate of ($0.33). Oppenheimer Holdings has a “Buy” rating and a $6.00 price target on the stock. Oppenheimer Holdings also issued estimates for Verastem’s Q4 2017 earnings at ($0.32) EPS, FY2017 earnings at ($1.39) EPS, Q1 2018 earnings at ($0.42) EPS, Q2 2018 earnings at ($0.48) EPS, Q3 2018 earnings at ($0.56) EPS and Q4 2018 earnings at ($0.70) EPS.
Verastem (NASDAQ:VSTM) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by $0.02.
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VSTM has been the subject of several other reports. Cann reissued a “buy” rating and issued a $6.00 target price on shares of Verastem in a report on Monday, June 26th. HC Wainwright set a $7.00 price objective on Verastem and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “hold” rating and set a $2.00 price objective on shares of Verastem in a research note on Thursday, May 11th. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research note on Thursday, July 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $1.50 price objective on shares of Verastem in a research note on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $4.61.
Shares of Verastem (NASDAQ VSTM) opened at 3.15 on Friday. Verastem has a 12-month low of $1.05 and a 12-month high of $4.67. The firm’s market capitalization is $116.52 million. The company’s 50-day moving average price is $3.29 and its 200 day moving average price is $2.14.
A number of hedge funds have recently bought and sold shares of VSTM. Alpine Woods Capital Investors LLC bought a new stake in Verastem during the second quarter valued at approximately $109,000. TFS Capital LLC acquired a new position in shares of Verastem during the first quarter worth about $113,000. Howland Capital Management LLC increased its position 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 worth $641,000 after buying an additional 41,616 shares during the period. FMR LLC increased its position in shares of Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 219,445 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Verastem by 13.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,022,200 shares of the biopharmaceutical company’s stock worth $1,145,000 after buying an additional 122,600 shares during the period. 22.31% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Timothy J. Barberich acquired 30,000 shares of Verastem stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $2.45 per share, with a total value of $73,500.00. Following the purchase, the director now directly owns 69,462 shares in the company, valued at $170,181.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is owned by corporate insiders.
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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