Verastem (VSTM) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their buy rating on shares of Verastem (NASDAQ:VSTM) in a report issued on Wednesday. They currently have a $17.00 price objective on the biopharmaceutical company’s stock.

“VSTM shares are up premarket on the news that the company submitted an NDA for approval of duvelisib for the treatment of chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL), as well as for accelerated approval in relapsed or refractory follicular lymphoma (FL).”,” the firm’s analyst wrote.

VSTM has been the topic of a number of other research reports. Oppenheimer restated a buy rating and issued a $15.00 price objective on shares of Verastem in a research report on Sunday, December 10th. Zacks Investment Research upgraded shares of Verastem from a sell rating to a hold rating in a research report on Wednesday, November 8th. Cann restated a buy rating and issued a $13.00 price objective on shares of Verastem in a research report on Friday, January 26th. ValuEngine cut shares of Verastem from a sell rating to a strong sell rating in a research report on Friday, December 1st. Finally, Raymond James Financial restated a buy rating on shares of Verastem in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $9.53.

Verastem (NASDAQ VSTM) opened at $3.16 on Wednesday. Verastem has a 52-week low of $1.11 and a 52-week high of $5.71. The stock has a market cap of $135.87, a PE ratio of -1.93 and a beta of 2.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12.

In related news, Director Timothy J. Barberich purchased 60,538 shares of Verastem stock in a transaction that occurred on Tuesday, December 5th. The shares were bought at an average price of $3.95 per share, for a total transaction of $239,125.10. Following the completion of the transaction, the director now directly owns 130,000 shares of the company’s stock, valued at $513,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.51% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Monashee Investment Management LLC purchased a new position in shares of Verastem during the fourth quarter valued at about $844,000. Artal Group S.A. increased its position in shares of Verastem by 33.3% during the fourth quarter. Artal Group S.A. now owns 1,000,000 shares of the biopharmaceutical company’s stock valued at $3,070,000 after buying an additional 250,000 shares during the period. Wells Fargo & Company MN increased its position in shares of Verastem by 130.5% during the fourth quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 26,036 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Verastem during the fourth quarter valued at about $108,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of Verastem during the fourth quarter valued at about $534,000. Institutional investors own 28.72% of the company’s stock.

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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.

Analyst Recommendations for Verastem (NASDAQ:VSTM)

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