StockNews.com upgraded shares of Verastem (NASDAQ:VSTM – Free Report) from a sell rating to a hold rating in a research report report published on Thursday.
A number of other analysts have also recently commented on VSTM. HC Wainwright reaffirmed a buy rating and set a $17.50 target price on shares of Verastem in a report on Tuesday, May 28th. Alliance Global Partners dropped their price target on shares of Verastem from $34.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada dropped their price target on shares of Verastem from $32.00 to $16.00 and set an outperform rating for the company in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $24.50.
Check Out Our Latest Research Report on VSTM
Verastem Stock Up 2.8 %
Verastem (NASDAQ:VSTM – Get Free Report) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.26) EPS for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.10). On average, research analysts expect that Verastem will post -4.14 earnings per share for the current year.
Hedge Funds Weigh In On Verastem
A number of hedge funds and other institutional investors have recently modified their holdings of VSTM. Adage Capital Partners GP L.L.C. boosted its position in shares of Verastem by 116.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,300,000 shares of the biopharmaceutical company’s stock worth $10,569,000 after acquiring an additional 700,000 shares during the last quarter. Sectoral Asset Management Inc. bought a new position in shares of Verastem during the third quarter worth $1,653,000. Citigroup Inc. bought a new position in shares of Verastem during the third quarter worth $245,000. International Assets Investment Management LLC boosted its position in shares of Verastem by 114,375.0% during the fourth quarter. International Assets Investment Management LLC now owns 9,158 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 9,150 shares during the last quarter. Finally, Cannon Global Investment Management LLC bought a new position in shares of Verastem during the first quarter worth $131,000. Institutional investors own 88.37% of the company’s stock.
About Verastem
Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.
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