HC Wainwright reissued their buy rating on shares of Verastem, Inc. (NASDAQ:VSTM) in a report published on Wednesday morning. HC Wainwright currently has a $10.00 target price on the biopharmaceutical company’s stock.
Several other research firms also recently commented on VSTM. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $6.00 price objective on shares of Verastem in a report on Thursday, October 12th. Cantor Fitzgerald set a $17.00 price objective on Verastem and gave the stock a buy rating in a report on Tuesday, October 17th. Zacks Investment Research upgraded Verastem from a hold rating to a buy rating and set a $3.75 price objective for the company in a report on Thursday, July 13th. ValuEngine downgraded Verastem from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Cann restated a buy rating and set a $6.00 price target on shares of Verastem in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $7.18.
Shares of Verastem (VSTM) traded up $0.10 during trading hours on Wednesday, hitting $3.47. The stock had a trading volume of 180,900 shares, compared to its average volume of 776,098. Verastem has a 1 year low of $1.05 and a 1 year high of $5.71. The company has a quick ratio of 5.40, a current ratio of 3.12 and a debt-to-equity ratio of 0.06.
Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.29). sell-side analysts predict that Verastem will post -1.67 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Verastem by 40.3% during the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 21,178 shares in the last quarter. Howland Capital Management LLC lifted its position in shares of Verastem by 16.5% during the 2nd 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 in the last quarter. Citadel Advisors LLC purchased a new position in shares of Verastem during the 3rd quarter valued at about $195,000. Alpine Woods Capital Investors LLC purchased a new position in shares of Verastem during the 2nd quarter valued at about $109,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Verastem during the 3rd quarter valued at about $421,000. 24.25% of the stock is currently owned by hedge funds and other institutional investors.
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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