Verastem Inc (VSTM) Stock Rating Upgraded by Zacks Investment Research
Verastem Inc (NASDAQ:VSTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $3.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 0.94% from the company’s previous close.
According to Zacks, “Verastem, Inc. is a biopharmaceutical company focused on discovering and developing novel drugs that selectively target cancer stem cells. The company discovers, researches, and develops new medicines for the treatment of major cancers such as breast cancer. Verastem, Inc. is based in Cambridge, Massachusetts. “
Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued a “hold” rating and set a $2.00 price objective on shares of Verastem in a research report on Thursday, May 11th. Cann reiterated a “buy” rating and issued a $2.00 price target on shares of Verastem in a research note on Thursday, May 11th. CIBC reiterated an “outperform” rating and issued a $6.00 price target on shares of Verastem in a research note on Thursday, April 13th. Oppenheimer Holdings, Inc. began coverage on shares of Verastem in a research note on Thursday, April 13th. They issued an “outperform” rating and a $6.00 price target for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $1.50 price target on shares of Verastem in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.54.
Verastem (NASDAQ VSTM) traded down 2.56% on Thursday, hitting $3.62. 403,769 shares of the company were exchanged. The stock has a 50 day moving average price of $2.25 and a 200 day moving average price of $1.66. Verastem has a one year low of $1.05 and a one year high of $4.67. The firm’s market cap is $133.91 million.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.35). On average, equities research analysts forecast that Verastem will post ($1.31) EPS for the current fiscal year.
In other Verastem news, Director Timothy J. Barberich purchased 30,000 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $2.45 per share, with a total value of $73,500.00. Following the completion of the transaction, the director now owns 69,462 shares in the company, valued at $170,181.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in 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 in the last quarter. Renaissance Technologies LLC raised its position in 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 in the last quarter. Finally, TFS Capital LLC acquired a new position in Verastem during the first quarter worth approximately $113,000.
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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