Verastem, Inc. (NASDAQ:VSTM) – Oppenheimer Holdings lowered their FY2017 earnings per share estimates for Verastem in a research note issued on Tuesday. Oppenheimer Holdings analyst L. Cann now expects that the biopharmaceutical company will earn ($1.74) per share for the year, down from their previous estimate of ($1.39). Oppenheimer Holdings has a “Buy” rating and a $6.00 price target on the stock. Oppenheimer Holdings also issued estimates for Verastem’s Q4 2017 earnings at ($0.41) EPS, Q1 2018 earnings at ($0.47) EPS, Q2 2018 earnings at ($0.47) EPS, Q3 2018 earnings at ($0.52) EPS, Q4 2018 earnings at ($0.54) EPS, FY2018 earnings at ($1.99) EPS, FY2019 earnings at ($0.87) EPS and FY2021 earnings at $2.67 EPS.
Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.29).
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A number of other equities research analysts have also weighed in on VSTM. Zacks Investment Research lowered Verastem from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Cann reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Verastem in a report on Tuesday, July 25th. HC Wainwright set a $7.00 price objective on Verastem and gave the company a “buy” rating in a report on Thursday, August 10th. ValuEngine lowered Verastem from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Cantor Fitzgerald upgraded shares of Verastem from a “neutral” rating to an “overweight” rating and set a $2.00 price target for the company in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $7.18.
Shares of Verastem (NASDAQ:VSTM) opened at $3.47 on Friday. Verastem has a twelve month low of $1.05 and a twelve month high of $5.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 5.40.
Several institutional investors have recently modified their holdings of VSTM. Alpine Woods Capital Investors LLC acquired a new position in shares of Verastem during the 2nd quarter worth approximately $109,000. Northern Trust Corp raised its position in shares of Verastem by 40.3% during the 2nd quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 21,178 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Verastem during the 3rd quarter worth approximately $195,000. OxFORD Asset Management LLP acquired a new position in shares of Verastem during the 2nd quarter worth approximately $234,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Verastem during the 3rd quarter worth approximately $421,000. Hedge funds and other institutional investors own 24.25% 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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