HC Wainwright Analysts Give Verastem, Inc. (VSTM) a $7.00 Price Target
Verastem, Inc. (NASDAQ:VSTM) received a $7.00 price target from stock analysts at HC Wainwright in a report issued on Thursday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 96.63% from the stock’s current price.
Several other brokerages have also weighed in on VSTM. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Thursday, July 13th. Cann reaffirmed a “buy” rating and issued a $6.00 target price on shares of Verastem in a research report on Tuesday, July 25th. Cantor Fitzgerald reaffirmed a “hold” rating and issued 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 Verastem and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $1.50 target price on shares of Verastem in a research report on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $4.61.
Shares of Verastem (NASDAQ:VSTM) opened at 3.56 on Thursday. The firm’s market capitalization is $131.69 million. The firm has a 50-day moving average price of $3.27 and a 200-day moving average price of $2.13. Verastem has a 52 week low of $1.05 and a 52 week high of $4.67.
Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by $0.02. On average, equities analysts expect that Verastem will post ($1.33) earnings per share for the current fiscal year.
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In related news, Director Timothy J. Barberich purchased 30,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $2.45 per share, for a total transaction of $73,500.00. Following the purchase, the director now owns 69,462 shares in the company, valued at approximately $170,181.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in VSTM. Alpine Woods Capital Investors LLC bought a new stake in Verastem during the second quarter valued at about $109,000. TFS Capital LLC bought a new stake in Verastem during the first quarter valued at about $113,000. Howland Capital Management LLC increased its stake in Verastem by 16.5% in 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. FMR LLC increased its stake in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 219,445 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Verastem by 13.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,022,200 shares of the biopharmaceutical company’s stock valued at $1,145,000 after buying an additional 122,600 shares during the period. Institutional investors own 22.31% 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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