Verastem, Inc. (VSTM) Receives Average Rating of “Hold” from Brokerages
Verastem, Inc. (NASDAQ:VSTM) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $5.10.
A number of equities analysts recently commented on the stock. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $6.00 target price on shares of Verastem in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price (up previously from $6.50) on shares of Verastem in a research report on Thursday, September 7th. Cantor Fitzgerald upgraded shares of Verastem from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research report on Wednesday, September 6th. ValuEngine cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Cann reiterated a “buy” rating on shares of Verastem in a research report on Wednesday, August 16th.
Shares of Verastem (NASDAQ:VSTM) traded down 3.97% on Friday, hitting $4.35. 717,838 shares of the stock traded hands. Verastem has a 52 week low of $1.05 and a 52 week high of $5.71. The firm’s market cap is $160.92 million. The stock has a 50-day moving average price of $4.65 and a 200 day moving average price of $3.12.
Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). Equities research analysts predict that Verastem will post ($1.38) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in VSTM. Renaissance Technologies LLC increased its position in shares of Verastem by 20.0% during 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. Howland Capital Management LLC increased its position in shares of Verastem by 16.5% during 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. Alpine Woods Capital Investors LLC purchased a new position in shares of Verastem during the second quarter valued at about $109,000. Artal Group S.A. purchased a new position in shares of Verastem during the second quarter valued at about $1,090,000. Finally, Northern Trust Corp increased its position in shares of 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 buying an additional 21,178 shares during the period. Institutional investors own 24.19% 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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