Zacks Investment Research Upgrades Verastem Inc (VSTM) to “Buy”
Verastem Inc (NASDAQ:VSTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm presently has a $1.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 18.11% 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. “
VSTM has been the subject of several other research reports. HC Wainwright set a $5.00 target price on shares of Verastem and gave the stock a “buy” rating in a research note on Tuesday, October 4th. Cantor Fitzgerald reiterated a “buy” rating on shares of Verastem in a research note on Wednesday, November 2nd. Finally, Jefferies Group reiterated a “hold” rating and issued a $1.50 target price on shares of Verastem in a research note on Friday, August 5th.
Verastem (NASDAQ:VSTM) opened at 1.27 on Friday. Verastem has a 52 week low of $1.05 and a 52 week high of $2.43. The company has a 50-day moving average of $1.32 and a 200 day moving average of $1.36. The company’s market cap is $46.98 million.
Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. On average, equities analysts forecast that Verastem will post ($0.92) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new position in shares of Verastem during the second quarter valued at approximately $153,000. BlackRock Advisors LLC boosted its position in shares of Verastem by 3.9% in the second quarter. BlackRock Advisors LLC now owns 119,056 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 4,418 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Verastem during the second quarter valued at approximately $179,000. Granite Point Capital Management L.P. purchased a new position in shares of Verastem during the second quarter valued at approximately $179,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Verastem during the second quarter valued at approximately $179,000.
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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