“Verastem’s loss per share of $0.35 was less than our estimated $0.37. This was the result of slightly lower than estimated operating expenses, which were $13.1 million compared to our estimated $13.8 million. Our outlook for 2017-2021 remains basically unchanged other than minor adjustments to interest income and SG&A, which only impact EPS in 2020.”,” Cann’s analyst commented.
Several other research firms have also weighed in on VSTM. Cantor Fitzgerald reaffirmed a hold rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, May 11th. CIBC reaffirmed an outperform rating and set a $6.00 price target on shares of Verastem in a research report on Thursday, April 13th. Oppenheimer Holdings, Inc. assumed coverage on Verastem in a research report on Thursday, April 13th. They set an outperform rating and a $6.00 price target on the stock. Finally, HC Wainwright boosted their price target on Verastem from $5.00 to $6.50 and gave the stock a buy rating in a research report on Friday, March 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $3.64.
Shares of Verastem (NASDAQ VSTM) opened at 2.02 on Thursday. The company has a 50 day moving average price of $2.21 and a 200 day moving average price of $1.59. The company’s market cap is $74.72 million. Verastem has a 52 week low of $1.05 and a 52 week high of $2.54.
Verastem (NASDAQ:VSTM) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.35). On average, equities analysts expect that Verastem will post ($1.31) earnings per share for the current year.
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In other Verastem news, Director Timothy J. Barberich bought 30,000 shares of Verastem stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $73,500.00. Following the purchase, the director now owns 69,462 shares of the company’s stock, valued at approximately $170,181.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock valued at $2,539,000 after buying an additional 204,400 shares during the period. Vanguard Group Inc. increased its stake in Verastem by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,036,613 shares of the biopharmaceutical company’s stock valued at $2,145,000 after buying an additional 51,306 shares during the period. FMR LLC increased its stake in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 219,445 shares during the period. Geode Capital Management LLC increased its stake in Verastem by 0.4% in the first quarter. Geode Capital Management LLC now owns 188,743 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 750 shares during the period. Finally, TFS Capital LLC purchased a new stake in Verastem during the first quarter valued at about $113,000.
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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