Verastem, Inc. (NASDAQ:VSTM) received a $17.00 price objective from equities research analysts at Cantor Fitzgerald in a research report issued on Tuesday, October 17th. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 376.19% from the company’s previous close.
The analysts wrote, “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.””
Other equities analysts have also recently issued research reports about the company. Cann reiterated a “buy” rating and issued a $6.00 target price on shares of Verastem in a report on Tuesday, July 25th. HC Wainwright set a $7.00 target price on Verastem and gave the stock a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $1.50 target price on shares of Verastem in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $6.00 target price on shares of Verastem in a report on Wednesday, September 6th. Finally, Zacks Investment Research cut Verastem from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $7.18.
Shares of Verastem (NASDAQ:VSTM) traded up $0.01 during trading hours on Tuesday, reaching $3.58. 297,880 shares of the company were exchanged, compared to its average volume of 516,633. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.40 and a quick ratio of 5.40. Verastem has a 1 year low of $1.05 and a 1 year high of $5.71.
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). sell-side analysts anticipate that Verastem will post -1.38 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of VSTM. Artal Group S.A. bought a new stake in shares of Verastem during the 2nd quarter worth approximately $1,090,000. Dimensional Fund Advisors LP lifted its stake in shares of 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 acquiring an additional 253,492 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of 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 acquiring an additional 204,400 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Verastem during the 2nd quarter worth approximately $234,000. Finally, Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 107,029 shares during the last quarter. 24.25% of the stock is 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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