Shares of Verastem, Inc. (NASDAQ:VSTM – Get Free Report) have earned an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $25.69.
Several research analysts recently weighed in on VSTM shares. StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. HC Wainwright reissued a “buy” rating and set a $17.50 price target on shares of Verastem in a research report on Tuesday, May 28th. Royal Bank of Canada dropped their price target on Verastem from $32.00 to $16.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. Finally, Alliance Global Partners dropped their price target on Verastem from $34.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th.
Get Our Latest Stock Analysis on Verastem
Verastem Trading Down 0.6 %
Verastem (NASDAQ:VSTM – Get Free Report) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.10). On average, research analysts predict that Verastem will post -4.14 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Sectoral Asset Management Inc. acquired a new position in Verastem in the 3rd quarter worth about $1,653,000. Citigroup Inc. bought a new stake in shares of Verastem during the 3rd quarter worth about $245,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Verastem by 116.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company’s stock worth $10,569,000 after acquiring an additional 700,000 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Verastem by 114,375.0% during the 4th quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 9,150 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Verastem by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock worth $13,699,000 after acquiring an additional 10,678 shares in the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.
Verastem Company Profile
Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.
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