Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating reaffirmed by investment analysts at Cann in a note issued to investors on Friday. They currently have a $13.00 target price on the biopharmaceutical company’s stock. Cann’s target price would indicate a potential upside of 282.35% from the company’s previous close.
The analysts wrote, “Verastem announced today that a poster highlighting the synergistic effects of Duvelisib in combination with immune checkpoint or co-stimulatory antibodies in preclinical models of B cell lymphoma was presented at ASCO-SITC Clinical Immuno- Oncology Symposium. The purpose of this study was to evaluate whether Duvelisib therapy could augment the efficacy of immune checkpoint inhibitors or co-stimulatory agents in the A20 mouse model of B cell lymphoma. Verastem reported that as a result of beneficial changes within the tumor microenvironment, it observed enhancement by Duvelisib of the anti-tumor efficacy of immune checkpoint or co-stimulatory antibodies in this preclinical B cell lymphoma model.””
A number of other equities research analysts have also issued reports on VSTM. Oppenheimer reaffirmed a “buy” rating and issued a $6.00 target price on shares of Verastem in a research note on Thursday, October 12th. ValuEngine lowered Verastem from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Verastem in a research note on Wednesday, November 8th. Raymond James Financial reissued a “buy” rating on shares of Verastem in a research note on Monday, December 11th. Finally, Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.53.
Verastem (NASDAQ:VSTM) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.29). analysts anticipate that Verastem will post -1.74 EPS for the current year.
In other Verastem news, Director Timothy J. Barberich purchased 60,538 shares of Verastem stock in a transaction on Tuesday, December 5th. The shares were bought at an average price of $3.95 per share, with a total value of $239,125.10. Following the purchase, the director now directly owns 130,000 shares in the company, valued at approximately $513,500. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.51% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Northern Trust Corp lifted its stake 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 worth $160,000 after purchasing an additional 21,178 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Verastem during the 3rd quarter worth $136,000. Citadel Advisors LLC acquired a new stake in shares of Verastem during the 3rd quarter worth $195,000. Susquehanna International Group LLP increased its holdings in shares of Verastem by 137.1% during the 3rd quarter. Susquehanna International Group LLP now owns 75,526 shares of the biopharmaceutical company’s stock worth $355,000 after buying an additional 43,675 shares during the last quarter. Finally, Omni Partners LLP acquired a new stake in shares of Verastem during the 4th quarter worth $205,000. 28.65% of the stock is currently owned by institutional investors.
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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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