Verastem (NASDAQ:VSTM) has been given a $15.00 price target by stock analysts at HC Wainwright in a research note issued on Thursday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 172.23% from the stock’s current price.
Several other equities analysts have also commented on the stock. BidaskClub upgraded shares of Verastem from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 28th. Cann restated a “buy” rating and set a $16.00 price target on shares of Verastem in a research report on Thursday, August 9th. Seaport Global Securities set a $16.00 price target on shares of Verastem and gave the stock a “buy” rating in a research report on Friday, July 27th. BTIG Research set a $17.00 price target on shares of Verastem and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Finally, Raymond James upped their price target on shares of Verastem from $7.00 to $12.00 in a research report on Friday, August 10th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.60.
Shares of NASDAQ:VSTM traded down $0.21 on Thursday, reaching $5.51. 2,261,783 shares of the company’s stock were exchanged, compared to its average volume of 2,750,680. Verastem has a fifty-two week low of $2.77 and a fifty-two week high of $10.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.70 and a quick ratio of 7.70.
Verastem (NASDAQ:VSTM) last issued its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.14. The business had revenue of $15.51 million for the quarter. Equities analysts predict that Verastem will post -1.64 earnings per share for the current fiscal year.
In related news, Director Michael Kauffman bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was purchased at an average price of $7.49 per share, for a total transaction of $29,960.00. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $29,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Forrester bought 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was bought at an average price of $7.00 per share, with a total value of $73,500.00. Following the transaction, the chief executive officer now directly owns 209,234 shares in the company, valued at $1,464,638. The disclosure for this purchase can be found here. Insiders have bought 19,500 shares of company stock valued at $139,420 in the last 90 days. Insiders own 6.51% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American International Group Inc. grew its position in Verastem by 32.4% in the 3rd quarter. American International Group Inc. now owns 45,584 shares of the biopharmaceutical company’s stock valued at $330,000 after buying an additional 11,151 shares in the last quarter. Cohen Capital Management Inc. bought a new position in Verastem in the 3rd quarter valued at about $1,810,000. BlackRock Inc. grew its position in Verastem by 31.1% in the 3rd quarter. BlackRock Inc. now owns 4,644,888 shares of the biopharmaceutical company’s stock valued at $33,676,000 after buying an additional 1,101,976 shares in the last quarter. Wells Fargo & Company MN grew its position in Verastem by 7.9% in the 3rd quarter. Wells Fargo & Company MN now owns 139,162 shares of the biopharmaceutical company’s stock valued at $1,010,000 after buying an additional 10,157 shares in the last quarter. Finally, Northern Trust Corp grew its position in Verastem by 558.1% in the 2nd quarter. Northern Trust Corp now owns 625,158 shares of the biopharmaceutical company’s stock valued at $4,301,000 after buying an additional 530,166 shares in the last quarter. Hedge funds and other institutional investors own 43.40% of the company’s stock.
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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