Verastem, Inc. (VSTM) Given a $17.00 Price Target at Cantor Fitzgerald
Cantor Fitzgerald set a $17.00 target price on Verastem, Inc. (NASDAQ:VSTM) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
“VSTM has made a $6 million milestone payment to INFI (Not Covered), following positive Phase III DUO results in September, with a final milestone of $22 million due upon regulatory approval, which could come in 2019 following a 2018 NDA filing.”,” Cantor Fitzgerald’s analyst wrote.
Several other equities analysts have also recently issued reports on the company. Oppenheimer Holdings, Inc. restated a buy rating and issued a $6.00 price target on shares of Verastem in a research report on Thursday, October 12th. HC Wainwright reiterated a buy rating and set a $10.00 target price (up previously from $6.50) on shares of Verastem in a research report on Thursday, September 7th. ValuEngine cut Verastem from a hold rating to a sell rating in a research report on Friday, September 1st. Cann reiterated a buy rating on shares of Verastem in a research report on Wednesday, August 16th. Finally, Zacks Investment Research cut Verastem from a hold rating to a sell rating in a research report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Verastem presently has an average rating of Hold and an average target price of $7.18.
Verastem (VSTM) traded down 5.06% during mid-day trading on Tuesday, reaching $3.94. The company had a trading volume of 382,311 shares. Verastem has a 12 month low of $1.05 and a 12 month high of $5.71. The company’s market capitalization is $145.75 million. The firm’s 50 day moving average price is $4.69 and its 200-day moving average price is $3.13.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02). Equities research analysts anticipate that Verastem will post ($1.38) earnings per share for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in shares of Verastem by 40.3% in the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 21,178 shares during the period. Howland Capital Management LLC grew its holdings in shares of Verastem by 16.5% in the 2nd quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 41,616 shares during the period. Alpine Woods Capital Investors LLC acquired a new stake in shares of Verastem in the 2nd quarter worth approximately $109,000. Vanguard Group Inc. grew its holdings in shares of Verastem by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after acquiring an additional 107,029 shares during the period. Finally, OxFORD Asset Management LLP acquired a new stake in shares of Verastem in the 2nd quarter worth approximately $234,000. Institutional investors and hedge funds own 24.19% 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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