Verastem, Inc. (NASDAQ:VSTM) fell 1.9% during trading on Thursday . The stock traded as low as $3.88 and last traded at $3.98. 236,900 shares changed hands during trading, a decline of 81% from the average session volume of 1,229,840 shares. The stock had previously closed at $3.90.
Several brokerages recently commented on VSTM. HC Wainwright set a $7.00 target price on Verastem and gave the company a “buy” rating in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $6.00 target price on shares of Verastem in a report on Thursday, October 12th. Cann reiterated a “buy” rating on shares of Verastem in a report on Wednesday, August 16th. Zacks Investment Research downgraded Verastem from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Cantor Fitzgerald set a $17.00 target price on Verastem and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.18.
The firm’s market cap is $146.12 million. The stock has a 50 day moving average of $4.72 and a 200-day moving average of $3.17.
Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Analysts anticipate that Verastem, Inc. will post ($1.38) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in VSTM. Renaissance Technologies LLC boosted its stake in Verastem by 20.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock valued at $2,539,000 after purchasing an additional 204,400 shares during the period. Howland Capital Management LLC boosted its stake in Verastem by 16.5% during the 2nd quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock valued at $641,000 after purchasing an additional 41,616 shares during the period. Alpine Woods Capital Investors LLC bought a new stake in Verastem during the 2nd quarter valued at approximately $109,000. Artal Group S.A. bought a new stake in Verastem during the 2nd quarter valued at approximately $1,090,000. Finally, Northern Trust Corp boosted its stake in Verastem by 40.3% during the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 21,178 shares during the period. Hedge funds and other institutional investors own 24.19% of the company’s stock.
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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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