Verastem, Inc. (NASDAQ:VSTM) – Equities researchers at Oppenheimer Holdings dropped their Q3 2017 EPS estimates for Verastem in a note issued to investors on Tuesday. Oppenheimer Holdings analyst L. Cann now expects that the biopharmaceutical company will post earnings of ($0.35) per share for the quarter, down from their prior forecast of ($0.33). Oppenheimer Holdings has a “Buy” rating and a $6.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Verastem’s Q4 2017 earnings at ($0.32) EPS, FY2017 earnings at ($1.39) EPS, Q1 2018 earnings at ($0.42) EPS, Q2 2018 earnings at ($0.48) EPS, Q3 2018 earnings at ($0.56) EPS and Q4 2018 earnings at ($0.70) EPS.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.02.
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Several other equities research analysts have also issued reports on VSTM. HC Wainwright set a $7.00 price target on Verastem and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “hold” rating and set a $2.00 price target on shares of Verastem in a research note on Thursday, May 11th. Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a research note on Thursday, May 25th. Cann reaffirmed a “buy” rating and set a $6.00 price target on shares of Verastem in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $1.50 price target on shares of Verastem in a research note on Wednesday, June 28th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $4.61.
Verastem (VSTM) opened at 3.01 on Friday. The firm has a 50-day moving average price of $3.31 and a 200-day moving average price of $2.15. The firm’s market capitalization is $111.35 million. Verastem has a one year low of $1.05 and a one year high of $4.67.
In other news, Director Timothy J. Barberich purchased 30,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was purchased at an average price of $2.45 per share, with a total value of $73,500.00. Following the completion of the purchase, the director now directly owns 69,462 shares in the company, valued at approximately $170,181.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Alpine Woods Capital Investors LLC purchased a new stake in shares of Verastem during the second quarter valued at about $109,000. TFS Capital LLC purchased a new stake in shares of Verastem during the first quarter valued at about $113,000. Northern Trust Corp raised its stake in shares of Verastem by 40.3% in the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock valued at $160,000 after buying an additional 21,178 shares during the period. OxFORD Asset Management LLP purchased a new stake in shares of Verastem during the second quarter valued at about $234,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Verastem by 697.6% in the second quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock valued at $632,000 after buying an additional 253,492 shares during the period. 22.31% of the stock is owned by hedge funds and other institutional investors.
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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