Verastem (NASDAQ:VSTM)‘s stock had its “buy” rating restated by equities research analysts at Cantor Fitzgerald in a report issued on Wednesday. They presently have a $17.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 413.60% from the company’s current price.
The analysts wrote, “VSTM shares are up premarket on the news that the company submitted an NDA for approval of duvelisib for the treatment of chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL), as well as for accelerated approval in relapsed or refractory follicular lymphoma (FL).””
Several other brokerages also recently issued reports on VSTM. Oppenheimer reissued a “buy” rating and set a $6.00 target price on shares of Verastem in a research note on Thursday, October 12th. Raymond James Financial reissued a “buy” rating on shares of Verastem in a research note on Monday, December 11th. Cann reissued a “buy” rating and set a $15.00 target price (up from $6.00) on shares of Verastem in a research note on Sunday, December 10th. Roth Capital began coverage on shares of Verastem in a research note on Friday, December 1st. They issued a “buy” rating and a $12.00 price target on the stock. Finally, ValuEngine downgraded shares of Verastem from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $9.53.
Verastem (NASDAQ:VSTM) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.29). equities research analysts anticipate that Verastem will post -1.74 earnings per share for the current year.
In related news, Director Timothy J. Barberich purchased 60,538 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were acquired at an average cost of $3.95 per share, with a total value of $239,125.10. Following the completion of the purchase, the director now owns 130,000 shares of the company’s stock, valued at approximately $513,500. The acquisition 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 bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Verastem in the third quarter worth $6,580,000. Vanguard Group Inc. increased its stake in shares of Verastem by 10.3% in 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 during the last quarter. Artal Group S.A. increased its stake in shares of Verastem by 50.0% in the third quarter. Artal Group S.A. now owns 750,000 shares of the biopharmaceutical company’s stock worth $3,525,000 after acquiring an additional 250,000 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Verastem by 93.9% in the third quarter. Dimensional Fund Advisors LP now owns 561,969 shares of the biopharmaceutical company’s stock worth $2,641,000 after acquiring an additional 272,141 shares during the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Verastem in the third quarter worth $2,092,000. 28.72% of the stock is currently owned by institutional investors and hedge funds.
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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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