Point72 Asset Management L.P. acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,400,000 shares of the biopharmaceutical company’s stock, valued at approximately $6,580,000. Point72 Asset Management L.P. owned approximately 3.46% of Verastem at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VSTM. Alpine Woods Capital Investors LLC acquired a new stake in shares of Verastem during the second quarter worth approximately $109,000. Artal Group S.A. acquired a new stake in shares of Verastem during the second quarter worth approximately $1,090,000. Northern Trust Corp increased its holdings in shares of Verastem by 40.3% during the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 21,178 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 107,029 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Verastem by 697.6% in the second quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock valued at $632,000 after purchasing an additional 253,492 shares in the last quarter. 34.24% of the stock is owned by institutional investors.

In other Verastem news, Director Timothy J. Barberich acquired 60,538 shares of Verastem stock in a transaction on Tuesday, December 5th. The shares were purchased at an average cost of $3.95 per share, with a total value of $239,125.10. Following the completion of the purchase, the director now owns 130,000 shares in the company, valued at $513,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.51% of the stock is currently owned by company insiders.

A number of analysts recently weighed in on VSTM shares. Cann reissued a “buy” rating and issued a $6.00 price target on shares of Verastem in a report on Tuesday, November 7th. Cantor Fitzgerald set a $17.00 price target on shares of Verastem and gave the company a “buy” rating in a report on Tuesday, October 31st. Oppenheimer reissued a “buy” rating and issued a $6.00 price target on shares of Verastem in a report on Thursday, October 12th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target (up previously from $6.50) on shares of Verastem in a report on Thursday, September 7th. Finally, Roth Capital started coverage on shares of Verastem in a report on Friday, December 1st. They issued a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $10.03.

Verastem, Inc. (NASDAQ:VSTM) opened at $3.14 on Monday. Verastem, Inc. has a 52 week low of $1.08 and a 52 week high of $5.71. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.29). equities analysts forecast that Verastem, Inc. will post -1.74 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Point72 Asset Management L.P. Invests $6.58 Million in Verastem, Inc. (VSTM)” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/18/point72-asset-management-l-p-invests-6-58-million-in-verastem-inc-vstm.html.

About Verastem

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.

Want to see what other hedge funds are holding VSTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verastem, Inc. (NASDAQ:VSTM).

Institutional Ownership by Quarter for Verastem (NASDAQ:VSTM)

Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.