TIAA CREF Investment Management LLC raised its holdings in shares of Verastem Inc (NASDAQ:VSTM) by 8.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,890 shares of the biopharmaceutical company’s stock after purchasing an additional 9,466 shares during the period. TIAA CREF Investment Management LLC’s holdings in Verastem were worth $920,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in Verastem by 240.6% in the second quarter. BlackRock Inc. now owns 3,542,912 shares of the biopharmaceutical company’s stock worth $24,376,000 after purchasing an additional 2,502,853 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in Verastem by 68.9% in the third quarter. MetLife Investment Advisors LLC now owns 45,077 shares of the biopharmaceutical company’s stock worth $327,000 after purchasing an additional 18,385 shares during the last quarter. Algert Global LLC purchased a new stake in Verastem in the third quarter worth approximately $288,000. Jane Street Group LLC purchased a new stake in Verastem in the third quarter worth approximately $536,000. Finally, Voya Investment Management LLC purchased a new stake in Verastem in the second quarter worth approximately $139,000. 48.49% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Roth Capital set a $14.00 target price on shares of Verastem and gave the stock a “buy” rating in a report on Friday, November 9th. ValuEngine cut shares of Verastem from a “strong-buy” rating to a “buy” rating in a report on Monday, October 29th. HC Wainwright set a $15.00 target price on shares of Verastem and gave the stock a “buy” rating in a report on Thursday, November 8th. BidaskClub cut shares of Verastem from a “sell” rating to a “strong sell” rating in a report on Friday, December 21st. Finally, Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Saturday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Verastem presently has an average rating of “Buy” and an average price target of $14.19.
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Verastem Company Profile
Verastem, Inc, operating as Verastem Oncology, is a biopharmaceutical company focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.
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