Vanguard Group Inc. Boosts Stake in Verastem, Inc. (VSTM)

Vanguard Group Inc. lifted its holdings in Verastem, Inc. (NASDAQ:VSTM) by 10.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,143,642 shares of the biopharmaceutical company’s stock after buying an additional 107,029 shares during the period. Vanguard Group Inc. owned about 3.09% of Verastem worth $2,493,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Alpine Woods Capital Investors LLC purchased a new position in shares of Verastem during the 2nd quarter worth about $109,000. Northern Trust Corp boosted 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. Artal Group S.A. purchased a new position in shares of Verastem during the 2nd quarter worth about $1,090,000. Finally, Renaissance Technologies LLC boosted 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 purchasing an additional 204,400 shares during the period. Hedge funds and other institutional investors own 34.24% of the company’s stock.

VSTM has been the subject of several research reports. Cann reissued a “buy” rating and issued a $6.00 price objective on shares of Verastem in a research report on Tuesday, November 7th. Cantor Fitzgerald set a $17.00 price objective on shares of Verastem and gave the company a “buy” rating in a research report on Tuesday, October 31st. Oppenheimer reissued a “buy” rating and issued a $6.00 price objective on shares of Verastem in a research report on Thursday, October 12th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective (up from $6.50) on shares of Verastem in a research report on Thursday, September 7th. Finally, Roth Capital initiated coverage on shares of Verastem in a research report on Friday, December 1st. They issued a “buy” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $7.78.

Shares of Verastem, Inc. (NASDAQ:VSTM) opened at $3.81 on Thursday. Verastem, Inc. has a 52-week low of $1.08 and a 52-week high of $5.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.12 and a current ratio of 3.12.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.29). sell-side analysts expect that Verastem, Inc. will post -1.74 EPS for the current fiscal year.

WARNING: This article was originally reported by Stock Observer and is the property of of Stock Observer. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.thestockobserver.com/2017/12/07/vanguard-group-inc-boosts-stake-in-verastem-inc-vstm.html.

About Verastem

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.

Institutional Ownership by Quarter for Verastem (NASDAQ:VSTM)

Receive News & Ratings for Verastem Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply