Verastem Inc (NASDAQ:VSTM) – Investment analysts at Oppenheimer lifted their FY2020 earnings per share (EPS) estimates for shares of Verastem in a report released on Monday, June 18th. Oppenheimer analyst L. Cann now anticipates that the biopharmaceutical company will post earnings per share of $0.17 for the year, up from their previous estimate of $0.11.
A number of other analysts have also recently issued reports on VSTM. Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. B. Riley initiated coverage on Verastem in a research note on Thursday, March 8th. They set a “buy” rating and a $15.00 target price for the company. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 target price on shares of Verastem in a research note on Tuesday, March 13th. HC Wainwright set a $10.00 target price on Verastem and gave the stock a “buy” rating in a research note on Thursday, March 15th. Finally, ValuEngine raised Verastem from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $11.25.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02).
In related news, VP Joseph M. Lobacki acquired 7,700 shares of the business’s stock in a transaction dated Friday, June 8th. The stock was bought at an average price of $5.79 per share, with a total value of $44,583.00. Following the acquisition, the vice president now owns 7,700 shares in the company, valued at approximately $44,583. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.51% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VSTM. Wells Fargo & Company MN boosted its holdings in shares of Verastem by 130.5% in the 4th quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 26,036 shares during the last quarter. Monashee Investment Management LLC acquired a new stake in shares of Verastem in the 4th quarter valued at approximately $844,000. Spark Investment Management LLC acquired a new stake in shares of Verastem in the 4th quarter valued at approximately $113,000. AXA boosted its holdings in shares of Verastem by 32.2% in the 4th quarter. AXA now owns 78,425 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 19,118 shares during the last quarter. Finally, AWM Investment Company Inc. acquired a new stake in shares of Verastem in the 4th quarter valued at approximately $1,408,000. 25.63% of the stock is owned by institutional investors.
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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