Verastem Inc (NASDAQ:VSTM) received a $5.00 price objective from equities research analysts at HC Wainwright in a research report issued on Tuesday. The brokerage presently has a a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 277.36% from the stock’s previous close.
Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Verastem from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research note on Thursday, August 11th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Verastem in a research note on Tuesday, August 9th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $1.50 price objective on shares of Verastem in a research note on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $2.75.
Shares of Verastem (NASDAQ:VSTM) traded up 3.3887% during mid-day trading on Tuesday, hitting $1.3699. 177,243 shares of the stock were exchanged. The stock has a 50-day moving average price of $1.35 and a 200 day moving average price of $1.41. Verastem has a 52-week low of $1.05 and a 52-week high of $2.43. The firm’s market cap is $50.68 million.
Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.06. On average, equities research analysts expect that Verastem will post ($0.94) earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in VSTM. Paloma Partners Management Co purchased a new stake in Verastem during the second quarter valued at approximately $153,000. BlackRock Advisors LLC increased its position in Verastem by 3.9% in the second quarter. BlackRock Advisors LLC now owns 119,056 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 4,418 shares during the period. GSA Capital Partners LLP bought a new position in Verastem during the second quarter valued at about $179,000. Granite Point Capital Management L.P. bought a new position in Verastem during the second quarter valued at about $179,000. Finally, Emerald Acquisition Ltd. bought a new position in Verastem during the second quarter valued at about $179,000.
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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