Verastem, Inc. (VSTM) PT Set at $17.00 by Cantor Fitzgerald

Verastem, Inc. (NASDAQ:VSTM) received a $17.00 price target from equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 345.03% from the company’s current price.

Several other equities analysts have also weighed in on VSTM. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research report on Thursday, July 13th. Cann restated a “buy” rating and set a $6.00 price target on shares of Verastem in a research report on Tuesday, July 25th. HC Wainwright set a $7.00 price objective on shares of Verastem and gave the company a “buy” rating in a report on Thursday, August 10th. ValuEngine downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $6.00 price objective on shares of Verastem in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $7.18.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02).

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Several institutional investors have recently made changes to their positions in VSTM. Artal Group S.A. purchased a new stake in shares of Verastem in the second quarter worth about $1,090,000. Dimensional Fund Advisors LP lifted its holdings 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 worth $632,000 after buying an additional 253,492 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock worth $2,539,000 after buying an additional 204,400 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of Verastem in the second quarter worth about $234,000. Finally, Vanguard Group Inc. lifted its holdings 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 in the last quarter. 24.24% of the stock is currently owned by hedge funds and other institutional investors.

About Verastem

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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