Zacks Investment Research Lowers Verastem, Inc. (VSTM) to Hold
Zacks Investment Research cut shares of Verastem, Inc. (NASDAQ:VSTM) from a buy rating to a hold rating in a report released on Tuesday.
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. “
Several other equities analysts also recently weighed in on the stock. Cann reiterated a buy rating and issued a $2.00 target price on shares of Verastem in a research note on Thursday, May 11th. Cantor Fitzgerald reiterated a hold rating and set a $2.00 target price on shares of Verastem in a research report on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $6.00 target price on shares of Verastem and gave the company a buy rating in a research report on Wednesday, May 10th. Jefferies Group LLC reiterated a hold rating and set a $1.50 target price on shares of Verastem in a research report on Wednesday, June 28th. Finally, CIBC reiterated an outperform rating and set a $6.00 target price on shares of Verastem in a research report on Thursday, April 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Verastem has a consensus rating of Buy and an average target price of $4.54.
Shares of Verastem (VSTM) opened at 3.51 on Tuesday. Verastem has a one year low of $1.05 and a one year high of $4.67. The firm’s market capitalization is $129.84 million. The company’s 50 day moving average is $2.66 and its 200-day moving average is $1.89.
Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). Equities analysts expect that Verastem will post ($1.31) EPS for the current year.
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In related news, Director Timothy J. Barberich acquired 30,000 shares of Verastem stock in a transaction 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 transaction, the director now owns 69,462 shares in the company, valued at $170,181.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.00% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. TFS Capital LLC acquired a new stake in shares of Verastem during the first quarter worth approximately $113,000. FMR LLC boosted its stake 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 boosted its stake 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. Hedge funds and other institutional investors own 22.41% of the company’s stock.
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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