Verastem, Inc. (VSTM) Earns Buy Rating from Cann

Cann restated their buy rating on shares of Verastem, Inc. (NASDAQ:VSTM) in a research note released on Wednesday.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald restated a hold rating and set a $2.00 target price on shares of Verastem in a report on Thursday, May 11th. Zacks Investment Research upgraded Verastem from a sell rating to a hold rating in a report on Thursday, May 25th. HC Wainwright set a $7.00 target price on Verastem and gave the stock a buy rating in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $6.00 target price on Verastem and gave the stock a buy rating in a report on Sunday, June 4th. Finally, Jefferies Group LLC restated a hold rating and set a $1.50 target price on shares of Verastem in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Verastem presently has an average rating of Hold and an average price target of $4.61.

Shares of Verastem (VSTM) traded down 1.85% during midday trading on Wednesday, reaching $3.18. 101,821 shares of the company’s stock traded hands. Verastem has a 52-week low of $1.05 and a 52-week high of $4.67. The firm’s market capitalization is $117.63 million. The stock’s 50 day moving average price is $3.38 and its 200 day moving average price is $2.20.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by $0.02. On average, equities research analysts anticipate that Verastem will post ($1.38) EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Northern Trust Corp boosted its position 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 worth $160,000 after buying an additional 21,178 shares during the period. Howland Capital Management LLC boosted its position in shares of Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after buying an additional 41,616 shares during the period. Alpine Woods Capital Investors LLC bought a new position in shares of Verastem during the second quarter worth about $109,000. TFS Capital LLC bought a new position in shares of Verastem during the first quarter worth about $113,000. Finally, Vanguard Group Inc. boosted its position 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 buying an additional 107,029 shares during the period. Hedge funds and other institutional investors own 22.35% of the company’s stock.

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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