Verastem, Inc. (VSTM) Receives “Buy” Rating from Oppenheimer Holdings, Inc.
Verastem, Inc. (NASDAQ:VSTM)‘s stock had its “buy” rating reiterated by analysts at Oppenheimer Holdings, Inc. in a report released on Thursday. They presently have a $6.00 target price on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 29.87% from the company’s previous close.
Several other research firms also recently weighed in on VSTM. HC Wainwright reissued a “buy” rating and set a $10.00 price objective (up previously from $6.50) on shares of Verastem in a report on Thursday, September 7th. Zacks Investment Research raised Verastem from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Thursday, July 13th. ValuEngine downgraded Verastem from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Cantor Fitzgerald raised Verastem from a “neutral” rating to an “overweight” rating and set a $2.00 price objective on the stock in a report on Wednesday, September 6th. Finally, Cann reissued a “buy” rating and set a $6.00 price objective on shares of Verastem in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Verastem has an average rating of “Hold” and a consensus target price of $5.04.
Shares of Verastem (NASDAQ:VSTM) traded down 2.16% during trading on Thursday, hitting $4.52. The stock had a trading volume of 445,134 shares. The stock’s market capitalization is $167.20 million. The stock has a 50 day moving average price of $4.59 and a 200-day moving average price of $3.09. Verastem has a one year low of $1.05 and a one year high of $5.71.
Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02). On average, equities research analysts predict that Verastem will post ($1.38) earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in Verastem by 20.0% during the 1st 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 during the period. Vanguard Group Inc. lifted its holdings in Verastem by 10.3% during the 2nd 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 during the period. Artal Group S.A. acquired a new position in Verastem during the 2nd quarter worth about $1,090,000. Howland Capital Management LLC lifted its holdings in Verastem by 16.5% during the 2nd 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 during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Verastem by 697.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock worth $632,000 after buying an additional 253,492 shares during the period. 24.19% of the stock is currently owned by hedge funds and other institutional investors.
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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