Verastem, Inc. (NASDAQ:VSTM) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $4.50.
Several equities analysts have recently weighed in on the company. Cann reissued a “buy” rating on shares of Verastem in a report on Wednesday, August 16th. Zacks Investment Research cut Verastem from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. HC Wainwright set a $7.00 price target on Verastem and gave the company a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC reissued a “hold” rating and set a $1.50 price target on shares of Verastem in a report on Wednesday, June 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $2.00 price target on shares of Verastem in a report on Thursday, June 8th.
Shares of Verastem (NASDAQ VSTM) traded down 7.04% during mid-day trading on Friday, reaching $3.30. The company had a trading volume of 597,028 shares. The company’s market cap is $122.07 million. The firm’s 50-day moving average price is $3.53 and its 200 day moving average price is $2.28. Verastem has a 52-week low of $1.05 and a 52-week high of $4.67.
Verastem (NASDAQ:VSTM) last released its quarterly 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. Equities analysts expect that Verastem will post ($1.38) EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted 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 worth $2,539,000 after buying an additional 204,400 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Verastem by 10.3% in 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. FMR LLC boosted its position 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 in the last quarter. Artal Group S.A. bought a new position in shares of Verastem during the second quarter worth approximately $1,090,000. Finally, Howland Capital Management LLC boosted its position in shares of Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 41,616 shares in the last quarter. 22.35% of the stock is currently owned by institutional investors.
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.
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