Verastem, Inc. (NASDAQ:VSTM) – Research analysts at Oppenheimer Holdings cut their Q3 2017 earnings estimates for shares of Verastem in a note issued to investors on Tuesday. Oppenheimer Holdings analyst L. Cann now forecasts that the biopharmaceutical company will post earnings of ($0.35) per share for the quarter, down from their prior estimate 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.
Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday. Cantor Fitzgerald reissued a “hold” rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, May 11th. Cann reissued a “buy” rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, May 11th. HC Wainwright set a $7.00 price target on shares of Verastem and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Group LLC reissued a “hold” rating and set a $1.50 price target on shares of Verastem in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Verastem has a consensus rating of “Hold” and an average target price of $4.61.
Shares of Verastem (NASDAQ VSTM) opened at 3.01 on Friday. The stock has a 50 day moving average of $3.31 and a 200-day moving average of $2.15. The company’s market capitalization is $111.35 million. Verastem has a one year low of $1.05 and a one year high of $4.67.
Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $0.02.
A number of hedge funds have recently made changes to their positions in the company. OxFORD Asset Management LLP bought a new stake in shares of Verastem during the second quarter valued at approximately $234,000. 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 in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $2,493,000 after buying an additional 107,029 shares in the last quarter. 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 in the last quarter. Finally, Artal Group S.A. bought a new stake in shares of Verastem during the second quarter valued at approximately $1,090,000. 22.31% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Timothy J. Barberich purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $2.45 per share, with a total value of $73,500.00. Following the completion of the transaction, the director now directly owns 69,462 shares of the company’s stock, valued at $170,181.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.00% of the stock is owned by company insiders.
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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