Verastem, Inc. (VSTM) Shares Gap Up to $5.29

Shares of Verastem, Inc. (NASDAQ:VSTM) gapped up before the market opened on Monday . The stock had previously closed at $5.18, but opened at $5.29. Verastem shares last traded at $5.41, with a volume of 2,301,442 shares.

Several brokerages have issued reports on VSTM. HC Wainwright reissued a “buy” rating and set a $10.00 price target (up previously from $6.50) on shares of Verastem in a research report on Thursday. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $6.00 price objective on shares of Verastem in a research note on Wednesday, September 6th. Cantor Fitzgerald upgraded Verastem from a “neutral” rating to an “overweight” rating and set a $2.00 price objective on the stock in a research note on Wednesday, September 6th. ValuEngine cut Verastem from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Cann restated a “buy” rating on shares of Verastem in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Verastem currently has an average rating of “Hold” and a consensus target price of $5.04.

The company’s 50-day moving average price is $3.64 and its 200 day moving average price is $2.51. The firm’s market cap is $200.13 million.

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 analysts’ consensus estimates of ($0.34) by $0.02. On average, equities research analysts predict that Verastem, Inc. will post ($1.38) EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Verastem by 20.0% during the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock worth $2,539,000 after acquiring an additional 204,400 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Verastem by 10.3% during the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after acquiring an additional 107,029 shares in the last quarter. Artal Group S.A. purchased a new stake in shares of Verastem during the second quarter worth $1,090,000. Howland Capital Management LLC lifted its position in shares of Verastem by 16.5% during the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after acquiring an additional 41,616 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Verastem by 697.6% during the second quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock worth $632,000 after acquiring an additional 253,492 shares in the last quarter. 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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