Verastem (VSTM) Earns Buy Rating from Oppenheimer
Oppenheimer reaffirmed their buy rating on shares of Verastem (NASDAQ:VSTM) in a research report report published on Sunday. The firm currently has a $15.00 price objective on the biopharmaceutical company’s stock.
Several other research firms have also issued reports on VSTM. Zacks Investment Research raised shares of Verastem from a sell rating to a hold rating in a research report on Wednesday, November 8th. Cantor Fitzgerald set a $17.00 price target on shares of Verastem and gave the stock a buy rating in a research report on Tuesday, October 31st. ValuEngine lowered shares of Verastem from a sell rating to a strong sell rating in a research report on Friday, December 1st. Roth Capital initiated coverage on shares of Verastem in a research report on Friday, December 1st. They set a buy rating and a $12.00 price target on the stock. Finally, HC Wainwright reaffirmed a buy rating and set a $10.00 price target (up from $6.50) on shares of Verastem in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.03.
Verastem (NASDAQ:VSTM) opened at $3.72 on Friday. Verastem has a 1-year low of $1.08 and a 1-year high of $5.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12.
In related news, Director Timothy J. Barberich acquired 60,538 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $3.95 per share, with a total value of $239,125.10. Following the completion of the transaction, the director now directly owns 130,000 shares of the company’s stock, valued at $513,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 6.51% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in shares of Verastem in the third quarter valued at about $6,580,000. Renaissance Technologies LLC raised its position 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 purchasing an additional 204,400 shares during the period. Vanguard Group Inc. increased its position in Verastem by 10.3% during the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after acquiring an additional 107,029 shares during the period. Artal Group S.A. increased its position in Verastem by 50.0% during the third quarter. Artal Group S.A. now owns 750,000 shares of the biopharmaceutical company’s stock worth $3,525,000 after acquiring an additional 250,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Verastem by 93.9% during the third quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock worth $2,641,000 after acquiring an additional 272,141 shares during the period. 34.24% of the stock is currently owned by institutional investors.
Verastem Company Profile
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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